Nine is up overall for FY19 despite TV and Radio downturn | radioinfo

Nine is up overall for FY19 despite TV and Radio downturn

Thursday 22 August, 2019

Nine has released its FY19 results for the 12 months to June 2019 and on a Statutory basis, reported a Net Profit After Tax of $234m, up 12% on the previous corresponding period.
 
This is despite a downturn in earnings for Macquarie Media with radio revenue down by 3%, and a 6% reduction in TV revenue.
 
Macquarie Media released its FY19 results earlier this month. (see our earlier story).
 
Overall Nine recorded strong growth in Digital & Publishing and, with more than 1.7m active subscribers, Stan moved into the positive in H2.
 
 
Highlights include:

  • 56% growth in Digital & Publishing EBITDA underpinned by >60% growth in both Metro Media and 9Now
  • More than 1.7m active subscribers at Stan, and cash flow and EBITDA positive in H2
  • Solid contribution from Domain
  • Completion of the merger with Fairfax, and subsequent sale of ACM and Events  

Chief Executive Officer of Nine, Hugh Marks, says: “To achieve 10% EBITDA growth in this cyclically challenging FTA and housing market was a very strong result. It’s a validation of our strategy, the success of the investments we have made, and the efforts of our people. 
 
“Growth in Digital & Publishing and the move to profitability through the second half at Stan enabled us to grow Nine’s EBITDA year on year, giving us further confidence that we are investing in the right content and technology for the future of our business."


 

 

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