Nine Could Save $130M From NRL As It Attempts To Cut $266M
As Nine attempts to cut costs by $266m this year, the free-to-air broadcaster could technically be in luck and save itself a quick $130, should the NRL be cancelled.
Nine withdrew its annual earnings guidance just over a week ago, saying the “rapid progression of COVID-19 is beginning to have an impact on Nine’s markets”.
And yesterday, Nine released a statement to the ASX, stating it is focused “on major short and long-term cost initiatives across all of its businesses”, as well as expediting part of the $100m, three-year linear cost out that was announced with Nine’s interim results in February.
Cost-saving initiatives include savings from the NRL, which could save Nine $130m, should the season be cancelled, which will be equally booked in the 2020 and 2021 financial year.
Nine CEO Hugh Marks said: “This is a very difficult time for all Australians, on many levels. Notwithstanding an expected significant impact on our business as conditions continue to evolve, we are confident that with our enhanced audience position, our mix of assets and the commitment of the Nine team, we will emerge from this period a stronger and more competitive company.”
Nine CEO Hugh Marks
Nine also outlined a further $68m in operational savings this year, including sales and product costs, operational changes, travel and withdrawing bonuses and commissions.
It will also save $30m and $10m in capital expenditure by deferring project and spectrum payment, respectively, until next year.
Meanwhile, Nine reported significant audience growth across all of Nine’s platforms, including linear audience growth on core news and current affairs content, as well as across Nine’s digital mast-heads.
It also reported both Stan and 9Now have accelerated growth in active subscribers and usage.
Latest News
Triple J’s Hottest 100: Only A Few Hundred Votes Separate First And Second Place!
Hottest 100 top songs of the year are neck and neck. B&T editor still working out who G Flip and Mallrat are.
Some Funny Bugger Has Stolen Pauline Hanson’s Website And Redirected It To The Refugee Council
It's a safe bet to assume "I don't like it" was uttered a few times up in Queensland this morning.
LinkedIn Launches Jobs Bootcamp To Make “2021 The Year Of Your Career”
B&T's hoping Uber Eats or Diageo will be the next company to launch an all-day Bootcamp.
WhatsApp Takes Out Full-Page Newspaper Ad To Address Privacy Concerns
After spending the last decade sending newspapers broke, Zuckerberg finally decides to throw them a bone with these ads.
Hailey Bieber, Kendall Jenner & Precious Lee Front Latest Versace Campaign
B&T's editor is more of a Lowes than Versace man, but he has been known to sport a colourful kaftan from time to time.
Greg ‘Blewey’ Blewett To Join Bernie And Jars For The Drive Home On Adelaide’s 104.7 Triple M
Adelaide's prodigal son is returning to the airwaves. Greg Blewett that is, not Guy Sebastian.
Lotame Extends New Cookieless ID Solution With Magnite, Sovrn, Eyeota And Advance Local Integrations
Dissapointingly, Lotame not rolling up sleeves and baking double choc cookies, as featured image would suggest.
Landor Australia Rebrands Women’s Tennis Association
Women's Tennis Association undergoes first rebrand in a decade, and not one tennis racket was thrown in a tantrum.
Collingwood Women’s Football Team Partners With AIA Australia
Collingwood women’s football team partners With AIA Australia. B&T hears it was a beautiful ceremony.
“Focus On Paying For Original Content”: Treasurer Slams Google’s Move To Block News Stories
Not one but two stories about Aussie politicians today. No, you're not reading The Guardian.
Integral Ad Science Acquires Amino Payments
Amino Payments joins the IAS family. Hopefully they don't get the middle child treatment.
Volkswagen Unveils Electric SUV, The ID.4, In Stunning Spot ‘The Wheel’ Via Johannes Leonardo
Zoetropes, a praxinoscope, early projectors, and a phenakistoscope have all been used to channel what is considered a monumental moment for carmaker Volkswagen in a new short by Johannes Leonardo. Directed by Sam Brown, the 90-second film ‘The Wheel’ uses some of the oldest devices of motion in film—the Zoetrope (praxinoscope, early projectors, and phenakistoscope)—as […]
ENGINE Group Australia Launches Media Agency
B&T will be extremely disappointed if the agency isn't asking its clients to "Rev the ENGINE" with this move.
DoubleVerify Earns MRC Accreditation For CTV Measurement
DoubleVerify earns this new accreditation which sadly does not come with a gold star or a giant sticker.
Rob Reilly Appointed As WPP Global Chief Creative Officer
Rob Reilly wins the race of WPP global CCO. Although not without a slight Achilles tendon tear, B&T understands.
R/GA Lands Uber Global Social Account As Agency Of Record
R/GA team excited about instantly scoring a 5 star Uber rating following this global win.
Four Celebrities Required Medical Attention Following Crazy Challenge On 10’s I’m A Celeb
I'm A Celeb contestants required medical attention following ice challenge. The water kind, not the hard drug kind.
M&C Saatchi Sport And Entertainment Nabs Richie Butterworth As Head Of Sponsorship
Butterworth begins new role with M&C Saatchi, where brick walls are soon to be painted minimalist white.
“Intentional And By Design”: How Val Morgan Digital Is Positioning Itself As An Advertiser’s Playground
Val Morgan is cementing itself as an advertiser's playground just minus the booze, cocaine and arancini balls.
TikTok Strengthens Protections For Under-18 Users
TikTok users over the age of 30 continue to be protected too, owing to the fact they don't really know how to use it.
Rebel Kitchen Calls Trump An Ass In Hidden Message On Outdoor Ads
As far as names Donald Trump has been called in recent days, 'ass' certainly ranks at the lower end.
Google Australia Set To Bury News Articles For Some Ahead Of News Media Bargaining Code
Google set to start burying certain articles. We're unsure if they will be able to find a big enough shovel.
The Athlete’s Foot Launches 2021 Back To School Campaign
When it comes to the downsides of being a parent, buying $150 shoes that are outgrown within months is right up there.
Brad Pitt Fronts Miraval Rosé’s First-Ever Ad Campaign With A Repurposed Image
If ever there was someone with no need for retouching it would have to be Brad Pitt.
Dentsu’s iProspect To Absorb Vizeum Globally
Dentsu continues to streamline operations with this move. It was either this merger or the coffee machine, staff told.
Nine & Stan Eye Off NBL Rights
On an unrelated note, Hugh Marks spotted practising his alley-oops and free throws at the North Sydney basketball courts.
Creepy Or Convenient?
If B&T's editor could think of a three-word headline for every story he'd be retired by now.
Cannes Confirms Plans To Go Ahead In 2021
Want to sip rosé on the French Riviera while keeping a respectable 1.5m distance from adland's best? Good news today.
OMA Appoints Ipsos To Rebuild MOVE For The Digital Age
Upset at B&T's lately acronym-lite newsletter? This article makes up for it in spades.
Is Moving The Australian F1 Grand Prix to November The Best News The Event (And Its Sponsors) Has Ever Had?
Is the F1 move the best thing to happen to the events industry EVER? It's either that or the invention of the slider.
