Nine Entertainment has posted some very positive results for the last financial year, as it prepares for a “very exciting” future with Fairfax Media.
The company delivered a statutory net profit of $209.7 million in the 12 months to 30 June 2018, swinging back from a $203.4 million loss the previous fiscal year.
Excluding one-off items, Nine’s net profit after tax was up a massive 27 per cent in FY18 to $156.7 million, and revenue increased by six per cent over the period to $1.3 billion.
Nine’s earnings before interest, taxes, depreciation and amortisation (EBITDA) was up 25 per cent to $257.2 million.
Looking at the company’s divisions, Nine Network experienced seven per cent revenue growth to $1.2 billion, with 23 per cent growth in premium ad revenue, and four per cent growth in other ad revenue.
Nine’s metro free-to-air advertising recorded 2.5 per cent growth in FY18 – the first year of growth for this market in four years.
As for Nine Digital, its revenue rose 7.2 per cent to $165.8 million, with 9Now delivering 89 per cent revenue growth, and digital publishing revenue increasing five per cent.
Nine’s streaming joint venture with Fairfax, Stan, has garnered over 1.1 million subscribers as of August, with subscription revenue up 72 per cent in FY18 and operating costs up 23 per cent.
Nine CEO Hugh Marks said the company’s strong operating performance from last year continued across its entire suite of assets.
“Positive free-to-air TV ratings momentum combined with our focus on the 25 to 54-year demographics is translating to improving revenue share,” he said.
“In Digital, 9Now is experiencing strong revenue growth and our digital publishing business has reported accelerating growth in premium revenues in line with our strategy.
“Stan has raced through the milestone of one million subscribers and remains focused on the build of a longer-term competitive and profitable local SVOD player.
Marks said Nine’s proposed takeover of Fairfax will enhance the company’s ability to continue to grow our business for the benefit of all shareholders.
“The increasing scale of the merged group will expand both our advertising reach and ability to offer innovative solutions, backed by data and Nine’s Galaxy platform,” he said.
“The combined reach of the group’s expanded media assets will enable an acceleration in the growth of the Domain business.
“While Nine’s ability to invest in and expand what will be Australia’s largest news platform, across television, radio, digital and print is also incredibly exciting.”
The Australian Competition and Consumer Commission is set to hand down its decision on the merger on Thursday 8 November, and has outlined its key areas of focus for the review.
Australian fashion brand Witchery has partnered with B Corp GlamCorner as part of GlamCorner’s subscription box offering as the demand for everyday essentials soars. This partnership marks another milestone for the Australian fashion industry towards becoming more circular and introducing more paths to reduce textile waste. Customers nationally will be able to rent more of […]
The media, marketing and creative industries are being encouraged to host their own ‘Curry Club for COVID’ before 30th June to help meet the ambitious $100k target set by its organisers. Curry Club for COVID, which was conceived by long-time adtech executive Peter Bray, sales director at Impact, and is powered by industry social purpose organisation […]
The UnLtd Cup is returning for its tenth consecutive year, marking a decade of soccer shenanigans that’s raised nearly $500,000 for children’s mental health charity, KidsXpress. On July 22-23rd, 28 teams from across the industry will battle it out on the soccer field in the two-day tournament at Sydney University Sports and Fitness Centre, Darlington. […]
Australian-bred company Ultra Commerce has acquired New Zealand-based company Vesta eCommerce, a global software business providing leading product data management solutions. The recent acquisition is a significant move for the business, which is Australian born, owned, and headquartered, but has built out a global presence as it pursues rapid growth in the eCommerce market. Connecting […]
Canteen’s latest campaign features the combined talents of Director Luna Laure and creative agency Crater. The campaign strives to raise awareness for young people affected by cancer. The awareness campaign centres around Harry Barentson, who at 12 years of age found out his pregnant mum had cancer. The campaign aims to bring awareness to Canteen’s […]
In partnership with storytelling agency Enthral, AFL legend Kevin Sheedy has voiced a ‘Love Letter to Victoria’ using visuals to showcase the state’s natural beauty and culture. Victoria has been hit with the worst of the coronavirus pandemic compared with any other Aussie state, experiencing four lockdowns. Sheedy partnered with Enthral to share a love […]
Telstra’s lower-cost telco, Belong, has awarded its strategy and creative account to Howatson + White, and has reappointed OMD to its media buying account, after a competitive pitch process. Howatson + White will handle strategy, planning, creative and CRM, while former agency Clemenger will continue to have a relationship with Belong, managing PR and retail activation. […]