Nine notes ‘market uncertainty’ as radio revenues fall

Nine has given a muted trading update in which it reported a double digit revenue drop in its audio division, and flagged that increased TV revenue was due to the election, and unlikely to last.

This market update comes ahead of CEO Matt Stanton’s participation at the Macquarie conference in Sydney on Wednesday, and shows Nine’s Total TV advertising revenue increased by almost 8%, in the March quarter, consistent with projections made in February.

“Whilst the election did bring some money into the advertising market in March and April,” the update reads, “the current economic and market uncertainty is impacting the outlook for the balance of this financial year.”