Nine revenue flat in 'subdued' advertising market

Chris Pash
By Chris Pash | 24 August 2023
Credit: John Lockwood via Unsplash

Nine Entertainment reported revenue flat at $2.7 billion for the full year to June.

Net profit after tax was down 25% to $279 million. A final dividend of 5 cents a share was declared, taking the full year shareholder payout to 11 cents, down from 14 cents the year before.

The company says the advertising market remains subdued, particularly in free-to-air television, digital display and print publishing.

The Metro FTA market is currently expected to decline in the low double-digits (%) in the September quarter.

However, 9Now continues its growth trajectory, with low double-digit (%) revenue growth expected in the September quarter.

The company says across Total Television, reflecting both Nine’s ratings and sales performance, Nine is expected to outperform the underlying advertising market, and gain further share.

“Every month, across Nine’s television, publishing and audio assets as well as Stan and Domain, we reach almost 20m people,” says CEO Mike Sneesby.

“It is this broad reach which gives Nine its unique position - our ability to distribute content to the broadest possible audience; to monetise that content in multiple ways and to use our extensive first party data to ensure optimisation of audience and revenue.

“Our Total Television business has had an extraordinary year, achieving record revenue share results as our content strategy and investment continues to further strengthen our relative position.

“Our high quality talk radio assets have also grown share, whilst expediting the expansion into digital, with 115% digital revenue growth reported for the year.

“Subscription and licensing revenues at Nine’s wholly owned businesses, Stan and Publishing, together grew by around 9%, to 28% of total revenue ex Domain, with price increases successfully executed reflecting the strong content and engagement of the group’s growing subscriber bases.”

Numbers for the year to June:

nine full year to june 2023

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