BMF Revenue Falls 29% in First Quarter
The Australian advertising group reported a steep first-quarter decline after losing Westpac and Endeavour as clients.
Updated on Nov. 6, 2026 in Advertising
BMF recorded first-quarter FY27 revenue of $7.3m, down 29% year on year, while Enero Group's net revenue fell 15% to $28.9m over the same period. The figures were disclosed at Enero's annual general meeting.
Why it matters
The declines show the pressure facing Australian advertising and marketing services firms as client budgets tighten and technology-sector uncertainty weighs on spending. New wins with Asahi, Amazon Ring and Superloop only partly offset the loss of major clients.
BMF's quarterly EBITDA fell 40% to $1.3m and Hotwire Global's revenue dropped 20% to $13.9m, while Orchard lifted revenue 16% to $7.8m and EBITDA 38% to $1.7m. It remains unclear from the disclosures how long the revenue pressure will persist.
The players
BMF
BMF is an Australian marketing and advertising agency whose client losses and new wins shaped its first-quarter results.
Enero Group
Enero Group is an Australian marketing services company that owns Hotwire Global and Orchard and disclosed group figures at its annual general meeting.
The details
BMF lost Westpac and Endeavour as clients in the last financial year and has since added wins with Asahi, Amazon Ring and Superloop. Enero's AGM disclosed the BMF first-quarter revenue figures alongside its own group results.
Timeline
Last financial year (FY26): BMF lost Westpac and Endeavour as clients.
First quarter of FY27: BMF revenue fell 29% to $7.3m and Enero net revenue fell 15% to $28.9m.
Market Landscape
Enero Group's first-quarter results show net revenue down 15% across its agency portfolio, with BMF's 29% decline sitting well below that group average. The divergence between Orchard's growth and the declines at BMF and Hotwire Global points to uneven demand among Australian marketing agencies.
For Australian businesses that buy advertising and marketing services, the sector's revenue pressure may influence agency pricing and the availability of account teams. Shoppers are unlikely to see direct changes, though ongoing client losses could affect the range of campaigns agencies can deliver.
The takeaway
Agencies that depend on a small number of large clients are exposed when those relationships end, so diversifying the client base is a practical safeguard. Businesses comparing agency options may find that firms with recent wins and stable margins offer more reliable continuity.
Further reading
For broader context on how the sector is performing, explore the Advertising section.
Source note: This article includes information reported by Mumbrella.
