Seven West Media’s full-year profit slashed in tough TV market

Darcy Song

August 16, 2023 10:51

Seven West Media’s profit has been slashed by more than $60 million year-on-year in the 2023 financial year, as the group battles with a tough television ad market.

In its full-year earnings today, the media group posted $280 million in EBITDA (earnings before interest, taxes, depreciation and amortisation), an 18% decline compared to $342 million in 2022.

Early tradings on 16 August saw Seven West Media’s share price drop 7.5% to $0.37 after the earnings call.

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Darcy Song

Darcy Song was a reporter at Mumbrella, covering media owners, adtech and social platforms. She left in October 2023.