Seven formalises Google, Facebook agreements.

Seven West Media has now finalised a long-form agreement with Google and signed a long-form agreement with Facebook (awaiting signature by the latter overnight).

The agreement with Google is for five years and Facebook for three years.

SWM Managing Director and Chief Executive Officer, James Warburton, said: “Completion of the two agreements confirms the strong recognition of the quality and credibility of our leading television and newspaper news brands and entertainment content. Together, they underpin our sustainability and enable us to continue to build our digital platform.

“These partnerships have been made possible by the introduction of the Media Bargaining Code. This has been an important reform led by Prime Minister Scott Morrison, the Chair of the Australian Competition and Consumer Commission, Rod Sims, Treasurer Josh Frydenberg and Communications Minister Paul Fletcher.”

SWM anticipates the digital revenue associated with the agreements will commence before the end of FY21, with the majority to be derived in FY22. Minimal incremental costs are required to deliver the revenue.

Seven also reported net debt is forecast to be approximately $270 million to $280 million by the end of FY21 following proceeds of $45 million from the Airtasker IPO in March. Total debt retirement to $195 million in the second half to date.

James Warburton said: “Our balance sheet is now in a much stronger position and our FY21 Q4 content is positioned to deliver audience and share growth, particularly among people 25 to 54 and on 7plus.”

One Comment:

  1. Can you please let Seven know (as these new agreements are being done – although yes I understand it’s more ‘news’ focussed), but that their official Facebook pages for 7Two, 7mate and 7flix have been virtually untouched for over 1 year now, day of the 2020 Oscars was the last time they were properly used.

    They used to push prime time promos, etc daily for each channel and more importantly interacted with user comments – which have all gone unanswered much to the public’s dismay (take a look).

    Should be noted Nine’s 9Go, 9Gem, 9Life and 9Rush official Twitter pages have also been untouched in many months.

    Seven’s was around the time you reported the Melbourne publicity department had been sacked and Nine’s earlier this year around the time axings had been made in their creative department – related? Social media should be getting better, not worse. Main channel pages…

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