Seven to launch Hybrid Broadband Broadcast service
Hbb TV is already in use in Europe and Seven will launch a service next year.
Hbb TV is already in use in Europe and allows viewers to pay to see non-broadcast content.
Speaking at an investors presentation at the Museum of Contemporary Art in Sydney yesterday, Seven CEO Tim Worner (pictured) said, “Our aim is to create more and more content that Australians want to see and engage with, and we want to distribute that content wherever it is most profitable.”
He said Seven would have to buy more content for the service, which is currently in trial mode.
HbbTV services are in regular operation in France, Germany, Spain, Poland, Switzerland, Denmark, Netherlands, United Kingdom with trials in Ireland, Turkey, China, Russia, Japan, Sweden, Finland, Norway, USA and South East Asia.
Seven will launch its Hbb TV service in Q2 in 2014.
Seven West Media CEO Don Voelte yesterday told investors that the worst was over for the media company this year, announcing a drop in underlying net profit of “a few million” after reporting a net profit of $226.9 million last year. “Even if advertising doesn’t alter its present trends, we believe financial year 2013 was the worst of it for our company on a net-profit-after-tax basis,” he said.
Voelte said more than $100 million in costs had been taken out of the business in the past 10 months and that would contribute more than $75 million in post-tax profits in 2013/14.
He also signalled further cost cuts would follow.
“More for less, content is king and maximising every dollar spent,” he said.
Tim Worner emphasised the importance of Australian drama in Seven’s plans. “Appetite for Australian content is now just a fact of life and, in the case of one of our competitor networks, perhaps a fact of near-death,” he said.