Ten numbers down, but audience up

James McGrath
By James McGrath | 16 October 2014

Ten Network Holdings has posted an earnings loss of $79.3 million for the 12 months to the end of August, with a total loss of $168.3 attributable to members.

While the advertsing market would remain short overall it said it expected small growth from metro advertisers.

Releasing its full-year results to the Australian Securities Exchange this morning, it said television revenue decreased by 4.2% over the period to $601.7 million, which was within previous guidance.

It said that while "market conditions remain short", that the metro free-to-air advertising market would show marginal growth during the 2015 financial year.

Meanwhile, underlying costs grew by 7% year on year to $5.5 million, which was one precentage point lower than expected, but it also revealed a non-recurring cost of $54.2 million.

The one-off cost related to events such as the Sochi Winter Olympics and the Commonwealth Games.

Ten CEO Hamish McLennan said it was money well-spent though, with event TV such as sport delivering good revenue for the network.

"The impact of the strategic plan was initially evident with the success of the KFC T20 Big Bash League and the Olympic Winter Games, both of which generated good ratings and revenue for Ten during late 2013 and early 2014,” McLennan said.

He said the one-off events yielded its first total people audience growth since 2011, and it was the only year in which Ten managed to grow numbers in the age 25-54 demographic.

Meanwhile he said programs such as MasterChef, Offspring and The Living Room had all been good performers for the network, with MasterChef growing its audience by 31% year on year.

McLennan is due to speak with media and analysts shortly.

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