Seven West Media says it has identified further costs to cut as the television advertising market gets squeezed.
In a presentation to a Macquarie Bank conference, the network told investors the total TV market in the March quarter fell by about 11%.
The market is short and similar is expected in the June quarter, Seven told investors.
The media group has identified $15 million to $20 million in "new additional temporary cost savings".
However, Seven says the TV market has a history of striong recovery.
"TV market declines and recoveries have historically resulted in higher revenue within two years," CEO James Warburton and chief digital officer Gereurd Roberts told the conference.
Seven in February, when releasing half year results to December, said it planned cost cutting to meet a weaker television advertising market.
The media group then reported flat revenue and a dip in profits for the half year to December.
Statutory net profit after income tax was $114.9 million on revenue of $815.4 million, down 0.5%. Underlying net profit after tax (excluding significant items) fell 4.1% to $123.4 million
The company then said early indications suggested the television market may fall mid to high single digits in the half year to June but said visibility was "limited" at this stage.
Overall advertising spend, as defined by media agency bookings, fell 5.5% in March, according to the SMI (Standard Media Index) released this week.
A slide from Seven's presentation to Macquarie:
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