Ten revenues fall by $200m in a year
The collapse of Ten’s revenues in the last financial year have been made clear in new figures published by industry body Free TV today.
The final six months of the financial year ending in June saw Ten’s share of the commercial TV market languishing at 21.9 per cent, compared to Seven’s all time high of 40.5 per cent and Nine’s 37.6 per cent.
This was down for Ten on a year before when its share was 25.53 per cent, but fractionally up on the first six months of the financial year when it was on 21.57 per cent.
The total advertising market for the three networks was worth $1.805bn in the last six months – down 0.6 per cent on the same period a year before.
In revenue terms, this suggests that across the whole financial year, Ten saw revenues fall to $825m, from $1.02bn a year before – a drop of 19 per cent.
The disastrous year coincided with James Warburton’s brief tenure as CEO and the even briefer time for Mike Morrison as chief sales officer. During that period, the network’s ratings collapsed, particularly among its then target demographic of 16-39.
Earlier this year Warburton was replaced by current CEO Hamish McLennan, while chief sales officer Barry O’Brien is currently handing over the reigns to Louise Barrett.
Nine’s revenue share in the last six months puts it the closest it has been to Seven in recent years. Revenue tends to lag behind audience share, meaning that with Nine currently enjoying the ratings momentum, the network will be hoping to overtake Seven in the current financial year.
Today’s Free TV numbers:
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It would be interesting to view these numbers compared to equivalent spends 5, 10, 15 years ago, adjusted for population and inflation.
Clearly some marketers still go for the shotgun approach, hoping that a stray pellet will hit its target by chance, but I suspect most are getting a lot savvier.
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shares stable at 27c, market must have been expecting the drop.
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They fired Jimmy Warburton just in the knick-of-time
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You can be sure they will be blaming JW for years to come for all their woes.
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I thought Lachlan was meant to be Killing Fairfax …
now he’s killing Channel 10 too … !?
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This is embarrassing – surely Ten cannot be producing a profit and must be losing money.
As a shareholder do they need to issue a warning to market on this basis ?
The Chairman – Lachlan must take responsibility for this mess.
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“The Chairman – Lachlan must take responsibility for this mess.” <- it is no coincidence that everything he touches turned to rubbish.
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What a revenue joke Nine is. You’ve got TEN down in flames, Nine with the best advertiser friendly demos for the last 2 years and Seven are smashing them in revenue share! When will Gyngell wake up and realize his sales department and their ‘ex Ten’ sales leaders couldnt sell a drink to a drunk???
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