Traditional Media Remains A “Powerful Force”, Says Kerry Stokes

Traditional Media Remains A “Powerful Force”, Says Kerry Stokes

Despite Nine and Seven’s share price taking a hammering during the week on the back of poor ad data, Seven West Media’s boss Kerry Stokes has said free-to-air telly remains a “powerful force”.

Speaking exclusively to News Corp’s The Australian, it’s unclear whether the comments were intended to calm nervous investors or was a calculated attack against the myriad of new entrants trying to lure audiences away from traditional media.

Stokes acknowledged the competition from the internet that was allowing viewers to pay to watch their favourite programmes on their terms but he said they “were an opportunity rather than a threat” to the traditional free-to-air networks.

“I’m not saying that we don’t have challenges but I very strongly believe that the challenges are opportunities for television,” Stokes said.

“I see a future in which the existing mainstream media will have a profitable and prominent place and that includes News Corp, 21st Century Fox, Seven, The West Australian, Nine and Fairfax.

“We tend to spend too much time beating each other up and not looking at the fact that we are still the custodians of a really ­important part of the Australian environment.”

Read the full article here.

 




Please login with linkedin to comment

Collaborative Economy Voice Recognition

Latest News

The Mars Agency Announces Latest Findings Of Retail Media Report Card
  • Advertising

The Mars Agency Announces Latest Findings Of Retail Media Report Card

The Mars Agency has developed a scorecard that assesses the capabilities of leading platforms across key criteria required to optimally plan, execute, and measure effective retail media programs. The scorecard aims To help brands efficiently evaluate their spending options across retail media networks in Australia (and New Zealand). With spending on retail media advertising in […]

TV Ratings (27/03/2024): Jungle Members At War Over Concealed Lipstick
  • TV Ratings

TV Ratings (27/03/2024): Jungle Members At War Over Concealed Lipstick

A heated argument between two jungle members did the numbers for Ten last night, with I’m A Celeb obtaining a total national reach of 1,282,000. Fans were delighted as Candice Warner and influencer Skye Wheatley got into it over a stick of lipstick, leading Warner to dub the Instagram star “selfish.” Wheatley, best known for […]