Nine results: Revenue flat, profit up with TV ratings up, digital audience up

CEO Hugh Marks: “Key advertising demographics continuing to strengthen”

Nine Entertainment Co has reported its full-year results with revenue flat but with a slightly improved profit.

Revenue was $1,237m, down 3.5%, net profit after tax was $123.6m, up 3.3%.

The company highlighted improving 25-54 TV network share, improving revenue share, growth of 9Now registrations to over 4m which helped push revenue growth to 40%.

Hugh Marks (pictured), chief executive officer of Nine Entertainment Co., said: “The strategic work we did over the past 18 months to reshape our content offering has delivered outstanding results that will benefit our entire business in the mid-term.

“Our leadership position in key advertising demographics is continuing to strengthen as we progress through the calendar year. We are consistently growing advertising revenue share in FTA television, On Demand Television and Digital Publishing.

“At the same time, our group-wide focus on costs continues to reap rewards. Overall and Free To Air costs were down a further 1% and 2% respectively (excluding the impact of the long-awaited licence fee relief). Including licence fee relief, our group-wide costs were down 5%.

“With a strengthening balance sheet, and significant operational momentum and leverage, Nine enters the new financial year in a much stronger position. Our focus on creativity and content has never been clearer.

“The options available for us to monetise our content have never been more diverse. The media world of the future is video-based and we are right at the forefront of it in Australia.”

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