Nine Entertainment Passes Seven West & News Corp In Profits

Nine Entertainment Passes Seven West & News Corp In Profits

Nine Entertainment has predicted a 10 per cent rise in revenue following its takeover of Fairfax, with reported revenue growth across all of its businesses, except Domain.

While everyone in the Australian media industry was busy talking about Nine’s $115m ACM deal with Antony Catalano, the bigger news is Nine has now overtaken Seven West and News Corp in profits.

At the Macquarie investment conference last Wednesday, Nine CEO Hugh Marks said the media giant will lift its earnings by 10 per cent to between $420 million and $430 million by the end of the 2018-19 financial year.

This makes Nine the most profitable Australian-owned media business for this year and next.

Overtaking rivals Seven West Media and News Corp, Nine is forging ahead, with its profits expected to be more than double Seven’s.

Marks revealed Nine’s free-to-air TV revenue rose by 4 per cent in the March quarter, while its TV ad revenue rose by 4.2 per cent to 40.9 per cent.

Marks also revealed the metro media arm saw a 3 per cent rise in ad revenue, and a 12 per cent rise in print and digital revenues overall.

Nine has been tipped to buy out minority interests in Macquarie Media radio that it controls following the Fairfax takeover, but Mark did not mention the potential buy at the conference.

The network also expects a $30m swing in earnings as Stan breaks even at the EBITDA line in the fourth quarter of 2018-19, as well as an additional $25m from 9Now, and $30m earnings from annualised costs savings.

There was no talk of how Nine’s free-to-air TV or metro papers will do, perhaps a sign that both arms continue to battle with limp conditions.

The only reported downturn for Nine comes off the back of a falling property market, with Domain experiencing a 13 per cent fall in listings and 6 per cent revenue downturn.




Please login with linkedin to comment

News Corp Nine Seven West

Latest News

Sydney Comedy Festival: Taking The City & Social Media By Storm
  • Media

Sydney Comedy Festival: Taking The City & Social Media By Storm

Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]

Global Marketers Descend For AANA’s RESET For Growth
  • Advertising

Global Marketers Descend For AANA’s RESET For Growth

The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA  Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]