Seven West Media Experiences Profit Slides
Seven West Media has reported an almost 14 per cent drop in first-half of FY18-19 earnings and profit thanks to lower advertising revenue.
A fall in ad evenue across all of Seven West Media’s assets, including its television network, newspaper, and magazines has been attributed to a decline in TV advertising, digital advertising pressure and publishing advertising.
Seven West Media MD and CEO Tim Worner said: “We promised to improve our ratings and revenue share this half as we focused on the core and we have delivered, despite a softer second quarter advertising market.
“We continue to transform our operating model at pace, driving greater cost efficiencies and increasing our group cost out targets. We absorbed the new cricket costs, maintaining a flat cost base in the half.
“At the same time growth in new revenue streams is outstripping our expectations with 7plus, 7Studios and our investment portfolio all delivering strong growth.
The television broadcaster an publisher, controlled by Kerry Stokes, has forecast annual underlying earnings before interest and tax growth of flat to five per cent, increasing its cost savings target to $30-40 million.
Seven’s net profit dropped to $86.2 million for the six months to December 29, down from a restated $100 million for the same period a year earlier.
First-half underlying EBIT fell 4 per cent to $146.8 million, hurt by a 1.5 per cent fall in revenue to $797.4 million.
Seven West Media owns TV network Seven and also publishes The West Australian newspaper and other magazines including Marie Claire, New Idea and Men’s Health.
Seven revised its annual cost savings target guidance to $20-30 million in November from its initial target of $10-$20 million.
Latest News
Aussie Success Story Afterpay Unveils New Brand Identity
Aussie retail payments platform Afterpay has launched a new global look, feel and positioning with a fresh brand identity. Founded out of Bondi, Sydney, Australia five years ago, Afterpay has skyrocketed to infinite heights, with almost 10 million customers and 55,000-plus merchants now using the platform globally across Australia, US, UK (where it is called […]
Women in Media’s Doris Li: “Listen To Your Heart And Go For It, Then Settle For Extraordinary”
How Communications’ China marketing director, Doris Li, believes ad-land professionals must be courageous enough “to be abnormal”, and listen to their hearts, to be fearless in times of change. During this year’s B&T Women in Media Awards, presented by Bauer Media, we’ll be recognising exceptional people who have achieved success in their professional arenas, celebrating […]
Study: New Business Wins Still Resilient, But Creative Finding It Tougher Going Than Media
The holding companies might be losing as much as 23 per cent of their revenue year-on-year, but new business has remained relatively resilient through 2020, the lastest research from R3 has revealed. In the first half of 2020 total new business revenue decreased 10 per cent globally – but creative agencies are having to find […]
I’m Not Loving ‘Karens’, For What They Highlight About Our Society
In this guest post, the CEO of PR/comms agency Extollo, Katy Denis, examines the social phenomenon of our time – the entitled ‘Karens’ amongst us & why they can be such a danger… Until last week, I had no idea who or what a “Karen” is. Thanks to (and I use that term very lightly, […]
Telstra Calls In ABC Comic Mark Humphries To Hilariously Debunk 5G Conspiracy Theories
B&T finds the 5G conspiracy theories truly laughable, except Bill Gates wanting to microchip us all. That appears legit.
The Mint Partners Wins Pernod Ricard, Cemoy & Little National
Independent communications consultancy The Mint Partners has bolstered its integrated client roster and signed a number of premium lifestyle brands to kick start the new financial year. With an array of new products, services, and a focus on insight-led and creative integrated communications, MINT has enjoyed recent success with an expanded portfolio across new categories including fintech, […]
Activist Who Wanted Coon Cheese Shelved Now Wants Paul’s Smarter White Milk Renamed
B&T suggests new, less offensive names for Smarter Milk could be Udderly Delicious or the Liquid Lactose Lash.
University Of Tasmania Appoints Pivotus To Digital Advertising Strategy, Buying & Analysis
University Of Tassie set to debunk rumours its courses only include woodchopping, cider maker and a PHD in David Boon.
Aussie Agencies Top AD STARS 2020 Shortlist, With Ogilvy, M&C Saatchi Sydney And VMLY&R On Top
Aussie agencies dominate AD STARS shortlist, sending a clear warning to the likes of Bhutan & Kiribati in the process.
“I’d Rather Die Than Do This For A Day!” Influencer Lampooned For Job Ad From Hell
Who doesn't love to laugh at a "job ad from hell" story? Unless you once answered one and now have the job from hell.
Rumour Has It James Corden Will Replace Ellen If She Steps Down
Ellen set to join the list of ex-TV villains that also includes Ryan Phelan, Kerri-Anne Kennerley & Humphrey B. Bear
Indie Industry Body IMAA Launches First Radio Campaign With ARN
In what no one is calling a delicious irony, independent advertising body puts money where its mouth is by advertising.
opr Adds DocuSign To Client Roster
Sure, it might not be a Coke or a Qantas, but opr think this win significant enough to send well-meaning press release.
Stan Acquires Heckler Co-Produced Biopic On F1 champion Sir Jack Brabham
A feature length documentary on the extraordinary racing career of Australia’s first Formula 1 champion, Sir Jack Brabham, co-produced by design, animation and visual effects house Heckler, will be available on Stan exclusively from this Friday – 7 August. Directed by Ákos Armont (Aurora Films) in association with Heckler, whose co-founder Will Alexander served as […]
Monday TV Wrap: Bells Ring For Seven As Farmer Wants A Wife Continues Good Run
Farmer Wants A Wife does the business for Seven & we're yet to get to the neutering or the dagging part of the series.
Is This The End For Cash? 62% of Aussies Now Use Card Payments For Just About Everything
Dodgy tradies, international drug cartels and fountain wishing-wells set to be most effected by move away from cash.
ET Collective Announces 2020 Winner Of WomenKind X ET Initiative
Much like a winner's envelope that refuses to open, get past this confusing headline to reveal the winner inside.
“Notable For Its Exotic Plumage!” David Attenborough Lends Voice To Hilarious Anti-Trump Campaign
You rarely equate humour with political ads, & that just proves what a wonderful anomaly the Trump presidency truly is.
Seven Turns To Hit UK Format Beat The Chasers Comes To Find Australia’s Smartest
Seven unveils plans for a quiz show that sadly doesn't include a dunking machine or electric shocks for a wrong answer.
Adrian Farouk Appointed CEO Of Publicis’ Epsilon In ANZ
Adrian Farouk now guaranteed a spot in the Publicis' staff car park after promotion to Epsilon CEO.
“Now That’s A M***** F***** Burger!” Provocative Ad Sells Merits Of Going Vegan
The many advantages of veganism is getting to tell people 147 times a day & annoying the crap out of restaurant chefs.
Hays: 39% Of Job Applicants Have No Idea How To “Gain A Place On An Interview Shortlist”
Here's top tips for job applicants that include excluding juggling, the bagpipes and your Bali arrest on your resume.
Study: 1.5 Million Aussies Watch Netball On TV (& Third Of Those Are Men)
Study finds men are increasingly watching netball. Not helping with the housework, but definitely tuning-in to netball.
Hindus Rage At Unsavoury “Namaste Mother F@cker” T-Shirts
Sure, this T-shirt is kinda witty. Yet not appropriate for job interviews, a visit to nan's or Hindu cremation ceremony.
Would TikTok Be Missed?
Columnist poses the question - would TikTok be missed? B&T says not as much as vanilla Paddle-Pops or Best Of Red Faces.
NextMedia’s frankie And Gardening Australia Magazines Report “Surge In Sales”
Reports say frankie & Gardening Australia mag sales are soaring. Further proof that frankfurts & potted annuals are hip.
Mag Closures & The New Landscape For Earned Media
This columnist argues that fortune favours the brave. And that's from a media perspective, not a dragon fighting one.
“Worst Year In Living Memory!” Aussie Ad Spends Plummet 14.7% In 2019/20
As expected, 2019/20 ad spends make for very difficult reading indeed. Even more so if you've forgotten your glasses.
Jamie Whincup And A Host Of Aussie Personalities Star In Club Marine Series
In a first for the Australian insurance market, Club Marine, Australia’s largest provider of boat and pleasure-craft insurance, has released a new series of videos to help explain insurance cover. With a few familiar Aussie personalities to help out, Club Marine is helping its members, as well as the broader boating community, to understand the […]
Ultimate Edge Communications Welcomes Michaela Fulop Back As Client Success Manager
Sydney, July 31st, 2020: Sydney-based media marketing consultancy Ultimate Edge Communications (UEC) announces a new hire in the company’s media team; Michaela Fulop returns to fill the vacant role of Client Success Manager, to be the go-to person across the full client roster.
