Network Ten has reported a 4.6 per cent television revenue increase for 2015 calendar year, with CEO Paul Anderson saying it was a “positive” result given the ad market has been “flat”.
“Television revenue increased 4.6 per cent, which was a positive result given the capital city free-to- air television advertising market was flat during that period,” he said at this morning’s AGM.
Revenue from continuing activities was also up 4.5 per cent, per the company’s presentation lodged with the Australian Securities Exchange (ASX) this morning.
And while television costs were down 5.8 per cent, the network’s EBITDA (earnings before interest, taxes, depreciation and amortisation) were at a loss of $12million. However, this was a significant improvement from the network’s EBITDA last year, which was a loss of $79.3million.
“There has been a lot written and said this year about the health of the free-to-air TV industry and the challenges it faces from new and emerging forms of entertainment,” he said.
“Television has seen a small audience decline in total this year. But before the critics write our eulogy, they should remember their media history.”
The Foxtel and MCN strategic agreement was also mentioned in the meeting, and now that the regulatory bodies have approved the arrangement, it’s full steam ahead. Anderson reportedly said the agreement was a “game-changer” in the marketplace.
Per The Australian, Anderson also noted the uncertain future of the ad market.
“Looking at the year ahead, the television advertising market remains short in terms of forward bookings — making it difficult to predict how it will perform during our 2016 financial year,” he said.