TEN revenue drops 36%
Audiences are flocking to TEN right now but revenue for the year so far has fallen 36.6%.
- Published by David Knox
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Audiences are flocking to TEN right now but today the network said earnings for the nine months to May 31st fell 36.6% on year as advertising revenue continued to slide.
However Executive Chairman, Nick Falloon, says the outlook for the next few months is better due to the success of some new programming and the absence of the Olympics, which took both audience share and advertising dollars last year.
Earnings before interest, tax, depreciation and amortisation for the nine months fell to $128 million, from $201.9 million a year earlier, as revenue fell 12.6 per cent to $678.6 million. Revenue at its core television arm fell to 13.3% to $555 million for the nine months; television revenue for the third quarter fell 15% on year to $174.1 million.
Falloon was also optimistic that the network’s new ONE HD digital sports channel would continue to build its audience to rival the FOX Sports pay TV operations.
“Our new digital multi-channel ONE has also successfully launched and continues to improve on all critical measures including revenue and ratings,” he said.
He added that shows such as MasterChef Australia, Talkin’ ‘Bout Your Generation, Recruits and Merlin had demonstrated their worth.
“They are currently attracting considerable interest and investment.”
The broadcaster also said it would not pay a final dividend for fiscal 2009.
Source: The Australian, ABC, Herald Sun
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- Tagged with MasterChef Australia, Merlin, Olympics, Recruits, Talkin 'Bout Your Generation
6 Responses
Given the fact that so many experienced sales staff has left over the past few years, this comes as no surprise at all.If it wasn’t for D Mott the ship would have sunk by now.
Important to note that this 36% fall in revenue includes EYE – Ten’s outdoor billboard company.
TV Revenue at the Ten Network fell 15%.
I am absolutely astounded that the powers that be feel viewers will tune in at 7pm each weeknight to watch the incredibly unfunny Dave Hughes.After watching Spicks & Specks this week,it proved what i always knew.He’s about as funny as a fart in a lift.
it’s sure to improve, especially with the success of MasterChef
Good time to buy in, surely it’s only a matter of time time before Lachlan Murdoch snaps it up from a flagging CanWest?
Based on some of the comments on this site, you’d be led to believe Ten were rolling it in. This really puts things into perspective.
Will be interesting to see how 9 and 7 have been affected.