Network Ten has revealed its full-year results with the business seeing its television revenue increase 4.6% from 601.7 million in 2014 to 629.3 million in 2015.
Despite the boost in revenue, the network has still posted a loss of $312.2 million, with television earnings before interest, tax, depreciation and amortisation (EBITDA) seeing a loss of $12 million compared to a loss of $79.3 million in 2014. The network also noted that its television costs have decreased by 6.5%.
Ten Network Holdings’ chief executive officer, Paul Anderson said the increased television revenue and improved EBITDA performance during the 2015 financial year were driven by strong audience and revenue growth across all platforms, and the benefits of the restructuring undertaken by the company last year.
“Our strategy of reducing costs in certain areas and investing in prime time programming is clearly producing results,” Anderson said. “This year, the primary Ten channel has recorded its biggest prime time audience since 2012 and its highest commercial share since 2011.
“Ten is the only primary commercial free-to-air channel to increase its prime time audience this year and Network Ten is the only commercial free-to-air network to increase its prime time audience,” he said.
“Tenplay, our online catch-up and streaming platform, continues to attract new users and to achieve strong usage and revenue growth, with record video views recently for The Bachelor Australia and The Bachelorette Australia.”
Anderson said its partnership with MCN is operating very well, with strong monthly increases in Ten's share of the television advertising market.
“For Ten, the partnership with MCN is creating scale, new efficiencies, improved data capability and broader integration opportunities for our clients,” he said.
“We expect our partnership to drive further improvement in Ten’s revenue share and power ratio.”
The results came as the ACCC gave the green light to the deal between Foxtel, Ten and MCN.
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