Nine Entertainment Co

Exactly. Nine Sydney is moving from Willoughby to North Sydney in the near future, sure it’s sad that there’ll soon be no more stations locally still in their original studios (not the least because Nine was Sydney’s first TV station back in 1956) but this won’t be the end of the world.

The concerns I have about NBN’s move probably have less to do with new facilities (especially since an upgrade to HD for NBN News is well overdue) and more about the fear of possible cutbacks to the local news service. While NBN News continues to rate well, I’d be extremely surprised if the temptation to centralise production/presentation to Sydney wasn’t playing on the minds of the NEC hierarchy in recent years.

…and that’s only because they have a 99 year lease on Mt Coot-tha. Had the Brisbane studios been located somewhere else, based on the experiences of other metro markets they likely would’ve moved to places in/near the CBD sometime in the last decade or two.

1 Like

Not sure where to put this but has Nine always been a sponsor of the ‘Melbourne Awards’ by the City of Melbourne?

Has Seven cut back on their sponsorship with the council?

Just saw an ad on Nine Sydney for 2GB (as below)…
My only surprise is not having seen one before.
Has anyone else, or seen ads on Nine for 3AW, 4BC or 6PR in those markets?

2 Likes

Managed to catch footage of the TCN helicopter landing after tracking the final 747 flight (https://www.facebook.com/7NewsAustralia/videos/334102311088290 - watch the last few minutes). It is still based at Willoughby. Do we know where it will be based once Nine finish their move?

3 Likes

This is the site of the old NTD Nine Darwin tower and adjacent land. The land the old Nine studios are on was not part of the proposal.

Presumably any new development application will need to be severely scaled back, so I wonder if that will affect the value of any future development on the site of old Nine studios.

1 Like

Nine had plans to sell the site to the developers as the devs also own 4 Blake Street - so if they had the site they could basically redo the whole street.

It really needs to be done though. The area is quite rundown and the old Nine Darwin tower building has been squatted by local homeless people. It’s a common trend in Darwin for residents to reject any sort of new development in the city for no apparent reason.

Despite that, Nine’s building is still in an operational state with power clearly on - I’m not sure why they would keep it on for 7 months after vacating the site. A maintenance man visits once a week though.

2 Likes

I didn’t realise Macquarie Media used to have a PR agency?

1 Like

Yes. It was owned first by Macquarie when Singleton was the majority owner. While it had some big clients, it also did work for 2GB and Singo’s mates like Gerry Harvey. It was very small. It tried to branch out into Melbourne a few years ago and they set-up an office there, but that experiment was short-lived.

2 Likes

Nine has revealed its 2021 upfronts will be a virtual event on September 16. A bit too early to start a new thread to discuss 2021 programming, so I will just leave the press release here.

Nine Upfront 2021 goes virtual

Nine’s annual Upfront presentation is going virtual for the first time, with the 2021 event showcasing how Nine is the media partner of choice across television, radio, digital and publishing for businesses looking to chart a course for economic recovery in challenging times with access to our broad range of premium content.

As Australia’s largest locally owned media company, Nine will use its virtual 2021 Upfront showcase to illustrate the way it works with partners in the short, medium and long term as society and business finds a way through the COVID-19 health and economic impacts.

“These are extraordinary times and we have made the decision to connect with our advertisers earlier,” said Michael Stephenson, Nine’s Chief Sales Officer.

“We believe that now is the right time to speak to our partners not just about their 2021 plans but also about the opportunities that exist that exist today to help brand grow their business as we head towards Christmas.

“There has never been a more important time to work together to return our economy to growth, and the marketing ecosystem plays a key role in how it informs consumer expectations and attitudes. Nine, as the home of Australia’s most trusted and popular content spanning news, sport, lifestyle and entertainment, is uniquely placed to be the partner that brands turn to as they begin to look beyond the immediate short term.”

Nine’s 2021 Upfront will be delivered on September 16 with a one-hour virtual presentation outlining its vision for 2021, detailing how the group is positioned to help brands deliver better business results by leveraging Nine’s skill, passion and agility, and emphasising the breadth of audiences the group can deliver through premium content. Announcements on the day will span content, technology/data and partnerships.

The virtual event follows on from the success of the recent virtual Big Ideas Store presented by Powered by Nine which saw more than 3,500 participants tuning in.

“Nine is a platform with unrivalled scale to help you connect with your customers,” Stephenson said. “The things you can do with us, you simply can’t do with anybody else.

“We are unlike any other media company in Australia and it’s time to rethink, reset and reconsider who your business partner is as there’s never been a more important time to ensure you are partnering with media and content owners who can help you to achieve your goals.”

Invitations to register for Nine Upfront 2021 will be issued shortly.

2 Likes

It’ll be much of the same old (minus Celebrity Apprentice) so not really much to get excited about. Wouldn’t make much of a difference if it was earlier or later.

1 Like

Appointment of Chief Financial Officer

Nine has today announced the appointment of Maria Phillips as Nine’s Chief Financial Officer, effective August 31, 2020. Ms Phillips will report to Nine’s CEO, Hugh Marks.

Announcing the appointment of Ms Phillips, Mr Marks said “I am delighted to appoint Maria to the role of CFO. Maria has extensive experience across a broad range of consumer-related industries, including media. Her track record of driving strategy and transformation, particularly in the digital and technology space, will prove invaluable during this period of change in the media sector. And her passion and energy will mean she is a great fit with our leadership team at Nine.”

Ms Phillips said: “I am excited about joining Nine at this time. I have been so impressed by what the Company has achieved, as it transforms to the digital age, and look forward to contributing to that continuing evolution. I feel a real affinity to the media sector, and in Australia, Nine is the stand-out – well positioned to continue to grow and re-define its business and I am looking forward to being part of that.”

Educated in the UK, and with a Bachelor of Science (Physics) and Business degree, Ms Phillips is a Certified Practising Accountant, an Associate of the Chartered Institute of Management Accountants, and a member of the Australian Institute of Company Directors.

Until recently, Ms Phillips was the Chief Financial Officer at Velocity Frequent Flyer, where she played a key role through the sale process of private equity’s stake to Virgin. Prior to this, Ms Phillips held senior executive roles at Telstra, Foxtel and SingTel Optus.

1 Like

Nope :slight_smile:

Does anyone have any progress updates on Nine’s move?

Apparently the lights on the first 10 levels of 1 Denison have been on for the past few weeks, suggesting the move is well underway. I believe the majority of the building is now complete as of this week?

Studio production is still scheduled to relocate sometime in October I believe?

The newspapers were supposed this month.

Nine Entertainment Co. FY20 Final Results

Nine has released its FY20 results for the 12 months to June 2020. On a Statutory basis, Nine reported revenue of $2.2bn and a net loss of $575m, which included a post-tax Specific Item cost of $665m, largely relating to impairment of goodwill.

On a pre AASB16 and Specific Item basis, Nine reported Group EBITDA of $355m, down 16% on the Pro Forma results in FY19 for its Continuing Businesses. On the same basis, net profit after tax and minority interests was $160m, down 19%.

Key takeaways include:

  • Audience growth across all key platforms – Metro Publishing, Stan, 9Now, Radio and FTA
  • Strong growth from digital video businesses
    o $51m EBITDA improvement at Stan1, with current active subscribers of 2.2m
    o 36% growth in EBITDA at 9Now1 to $49m, with market leading BVOD share of ~50%
  • Ad markets heavily impacted by COVID-19 from March 2020
  • Nine was quick to mitigate the associated fallout with
    o $225m cost-out program – cash basis, CY20
    o Including increasing and expediting previous cost initiatives
  • 40% growth in digital EBITDA to $166m ($178m post AASB16)
  • Evolution of Metro Media business to consumer focus, with reader revenue now accounting for 59% of total revenue
  • Strong balance sheet, with (wholly-owned) leverage ratio

Hugh Marks, Chief Executive Officer of Nine Entertainment Co. said: “2020 was no doubt a challenging year. The results of the strategic growth decisions we have made over the past 5 years, have played out at scale across the year and, as a result, sheltered us from the worst of the market impact of COVID-19.

“Our focus on the growth platforms in the market – primarily digitally based, and video-centric – has paid off. In the year to June 2020, the combined contribution from Stan and 9Now, the digital components of Domain and Publishing grew by 40%, to around 48% of our total EBITDA. Digital video consumption and subscriber revenue in particular, have grown significantly across the period, while digital advertising markets have improved more quickly as we trade through the worst of the COVID crisis.

“On COVID more broadly we were quick to respond when the markets turned, transitioning the majority of our work-force to `work at home’ with minimal interruption. As advertising markets across all sectors came under pressure, we focused on significant short and long term cost initiatives across all of our businesses, successfully removing around $225m of cash costs in CY20, and setting in place the reduction of approximately $230m of long-term P & L cost from our business.

“As a result, the current market conditions have only given greater cause to continue to evolve the positioning of our business. Particularly the migration to digital – clearly evident across both our publishing and video assets. We will continue to drive growth in our increasingly prominent digital businesses while, at the same time, maximizing the performance of our traditional media assets.

“We are confident that this current period of adversity will only make us stronger. We believe we have the right strategy, the right assets and the right people, as well as a strong balance sheet, to ensure Nine’s position at the forefront of the media sector for many years to come.“

Download full release

Nine also reported a net debt of $291.2 million as of June 30 this year, but given its diversified businesses, it is in a healthier financial position than Seven West Media.

1 Like

During the Nine earnings conference call Hugh Marks was asked about television audience growth during and after the lockdown. He points out that advertising during the Nine News hour and A Current Affair brings in the most revenue.

Transcript of the conference call:

https://finance.yahoo.com/news/edited-transcript-nec-ax-earnings-024108848.html

3 Likes
4 Likes

3 posts were merged into an existing topic: The Voice

Get Connected: Like us on Facebook | Follow us on Twitter