Ten’s first half results: revenue falls 10.6%, EBITDA down 39.7%
Ten has announced a 10.6% drop operating revenue and an almost 40% plunge in EBITDA in its first half results.
Ten boss James Warburton said the results “reflected the tough conditions in advertising markets during the six-month period.”
The announcement from the network in full:
In whose interest would it be for TEN to become less expensive…?
watch Warburton do a Leckie and artificially deflate everything for the first year so he can do the rock star turn and take credit for MASSIVE growth in year two and three.
/sigh
It’s not a “tough market,” – it’s a complete change in how people access content.
I feel really sorry for the employees of companies run on 20th century business strategies. The time to evolve was ten years ago, now it’s too late.
With the growth of YouTube and internet-based display products such as AppleTV – combined with businesses now shifting their advertising spending towards online audiences – I can’t see how these numbers will EVER improve…
If the NBN is rolled-out successfully – and high definition video is able to be reliably streamed into loungerooms – I don’t see any future for TEN – who appear to have no clear strategy for how to extract the same (near) $750m in annual revenue from online audiences that they’ve traditionally received from broadcast advertising.
Nothing in life is forever.
Turnaround…what turnaround. Cost are virtually the same only 2.4% less than the same time last year even after a $85m write-off last year. As for revenue, they have dropped from a 29% share to a 24.5% share – some $120 pa lower than before. I thought Murdoch had promised 30% share not 24.5% ! He will probably claim Eleven as well, but memory says the previous management had launched Eleven not Murdoch or Warburton. Glad I bought Ten shares a few years ago – not !
Maybe if Ten stopped showing a million ads during their programming, it might be an easier network to watch. I am positive they have breached the number of permitted ads within an hour on COUNTLESS occasions. And I may be wrong, but it certainly seems like they are worse than the others.
Time for a government handout to prop up FTA TV, another dinosaur like Holden.
No wait, that already happened.
I always read with interest when the “on-liners” predict the death of TV.
Perhaps TV is king. Perhaps It will continue to be the best way to build brands and sell what we in adland need it to. And Ten is a critical part of the TV landscape.
Perhaps new media is not the future of our industry. Perhaps a bigger band wagon has never suckered so many unthinking disciples along for the ride. Well not since the Emperors New Clothes.
wonder how much fun Neil Shoebridge had with that as his first set of results.