Nine Reports Steady First Half-Year Profit Despite Drop In TV Revenue

Nine Reports Steady First Half-Year Profit Despite Drop In TV Revenue
SHARE
THIS



Nine Entertainment Co. has released its H1 FY19 results for the six months to December 2018, reporting a steady first half-year net profit of $172m, down one per cent on the previous corresponding period.

While Nine’s television revenue has dropped, its new entities, Stan and Metro Media, have continued to grow.

According to the first half year results for Nine, which come after the Fairfax merger, TV revenue was down from last year’s $616.6m to $563.5m, a fall of 11 per cent.

Other first-half findings include:

  • Strong FTA share and double digit cost reduction, offsetting weakness in the FTA market
  • 39 per cent growth in Digital & Publishing EBITDA underpinned by >50 per cent growth in both Metro Media and 9Now
  • Broadly flat contribution from Domain (ex Consumer Solutions businesses) in a cyclical housing market
  • Close to 1.5m active subscribers at Stan, growth of more than 60 per cent over the 12 months, with Stan expected to move into profit from Q4

Nine CEO Hugh Mark said: “The merger with Fairfax has created Australia’s pre-eminent media company, with a diverse suite of assets that now reach more Australians each week than those of any other local media company.

“This half year result is a testimony to the new Nine. With around 55 per cent of our revenue coming from a stable base of broadcasting and 45 per cent coming from businesses that are in strong long term growth markets.

“Meaning we’ve been able to grow EBITDA through a more demanding operating environment, at the same time investing for the future of our business.

Nine is now uniquely positioned through the combination of the operating strength of our traditional media assets as well as an increasing exposure to the continued transition of the market towards digital media assets”.

Meanwhile, The Australian has reported Nine Entertainment is pushing ahead with the sale of its regional and community newspapers and its New Zealand operations, following its $4 billion merger with Fairfax Media and rise in first-half earnings.

Nine said it’s “exploring potential value maximising opportunities for its non-metropolitan media assets, namely Australian Community Media and Printing (ACM), Stuff New Zealand and events”.

Please login with linkedin to comment

financial year Nine

Latest News

The Turning Tide Against Surveillance Capitalism
  • Opinion

The Turning Tide Against Surveillance Capitalism

In this guest post, CTO of Wiise, Hamish Browne (pictured below), says tech’s new focus on privacy will lead to new rules and new ways of doing business for marketers… With the delicate balance between customer data and privacy in the spotlight like never before, the potential emergence of new standards and business models, is […]

Opinion

by B&T Magazine

B&T Magazine
Kim Kardashian Spruiks Cryptocurrency In Instagram Ad
  • Media
  • Technology

Kim Kardashian Spruiks Cryptocurrency In Instagram Ad

Businesswoman, reality TV star, and social media personality Kim Kardashian has posted an ad for mysterious cryptocurrency Ethereum MAX [EMAX]. In a post on her Instagram story – where she has 228 million followers – Kardashian wrote: “Are you guys into crypto????” “This is not financial advice but sharing what my friends just told me […]

by B&T Magazine

B&T Magazine
Great Southern Bank Rebrands With ‘Happily Clever After’ Via Indie Agency Richard Rose
  • Campaigns

Great Southern Bank Rebrands With ‘Happily Clever After’ Via Indie Agency Richard Rose

Great Southern Bank has launched a brand campaign this week, ‘Happily Clever After’, coinciding with its name change from Credit Union Australia, bringing to life its purpose of helping all Australians own their own home. The journey to changing from Credit Union to Great Southern Bank began back in 2020. When Australia’s largest customer-owned bank, […]

Nine Promotes Jo Clasby To Commercial Director, Publishing
  • Marketing

Nine Promotes Jo Clasby To Commercial Director, Publishing

Nine has promoted Jo Clasby to the role of commercial director – publishing, where she will report to Nick Young. She was previously director of client partnerships – publishing. Her new role establishes her at the same level of seniority as Anthony Smyth, commercial director – radio. Smyth was promoted at the start of this […]

Mark Zuckerberg, chief executive officer of Facebook Inc., listens as Narendra Modi, India's prime minister, not pictured, speaks during a town hall meeting at Facebook headquarters in Menlo Park, California, U.S., on Sunday, Sept. 27, 2015. Prime Minister Modi plans on connecting 600,000 villages across India using fiber optic cable as part of his
  • Technology

“No F*cking Way!”: Pink Floyd Frontman Refused To Give Mark Zuckerberg Rights To Song

Roger Waters, co-founder of Pink Floyd, said he refused to give Mark Zuckerberg the rights to use hit song Another Brick in the Wall (Part Two). Waters was speaking at a pro-Julian Assange event when he said that he had been offered a “huge, huge amount of money” for the use of the 1979 hit […]

by B&T Magazine

B&T Magazine
Accor Celebrates Aussie & NZ Cities With New ‘Go ALL Out’ Campaign
  • Campaigns

Accor Celebrates Aussie & NZ Cities With New ‘Go ALL Out’ Campaign

Hospitality giant Accor is shining a light on the joy of cities through its newest campaign, ‘Go ALL Out’, which launches in Australia and New Zealand today. The gateway to the ‘Go ALL Out’ campaign is ALL – Accor Live Limitless, a lifestyle loyalty program that integrates rewards, services and experiences throughout the Accor portfolio […]

Marketing Firm Silverbean Set To Double Headcount To Support New Client Wins
  • Marketing

Marketing Firm Silverbean Set To Double Headcount To Support New Client Wins

Global affiliate and partner marketing firm Silverbean has secured new contracts with 13 major Australian brands and is now working to double the size of its Asia-Pacific team. Silverbean launched in Australia in 2019 and has seen steady growth through its work with retailers. Now, with 15 new brands joining the Silverbean portfolio, the agency […]

Xandr Launches New Guide Exploring The Future Of Identity
  • Advertising
  • Technology

Xandr Launches New Guide Exploring The Future Of Identity

Xandr, AT&T’s advanced advertising company, today released “Shaping the Future of Identity,” an industry guide exploring the approaches for buyers and sellers, as well as market participants, as they evaluate identity solutions in preparation for a future without third-party cookies.

GTI Appoints New GM Of Marketing & Strategy, Snares Fresh Client
  • Marketing

GTI Appoints New GM Of Marketing & Strategy, Snares Fresh Client

Tourism PR and marketing agency GTI has announced the appointment of longtime media executive Jenny Pham as its new general manager of marketing and strategy. Pham (pictured above) will lead the agency’s marketing division with responsibility for strategy, media and consumer marketing, while GTI founder and managing director Sarah Anderson remains as the day-to-day lead […]

Hospitality Networking Platform Clipboard Launches Equity Crowdfunding Campaign
  • Campaigns
  • Marketing

Hospitality Networking Platform Clipboard Launches Equity Crowdfunding Campaign

Clipboard, a free professional networking platform for the hospitality industry, has announced it will seek to raise its next round of funding via equity crowdfunding platform Birchal. This will power its vision to transform the way the fragmented hospitality industry connects, shares experiences, markets and recruits. With a growing member database of over 24,000 hospitality […]