Nine Entertainment Chair Catherine West said of the company’s financial results for the six months ending December 31 2024:

“We have continued to perform well operationally, while simultaneously strengthening our strategic position and implementing our cultural reset.” 

With a softer advertising market Nine reported a revenue of $1.4 billion with the company’s Group EBITDA, before specific items, $268 million, a 15% decrease on the same period last year. This can also be attributed to the loss of revenue from the end of the organisation’s commercial deal with Meta.

There was growth in streaming and broadcast audiences across audio and television and subscription revenues for metro newspapers including the Australian Financial Review.

There has been speculation that Nine Radio might be for sale. It was noted that there was a $2.6 billion takeover bid by CoStar for Domain last week. Nine is considering whether that proposal is in the best interests of its shareholders.

Nine Audio saw a 2% increase in total revenue. Digital revenue was up by 33%. Costs decreased marginally due to widespread cost initiatives offsetting investment in Digital and Olympic coverage. For the half, Nine Radio reported EBITDA of $6m, up 50% on previous corresponding period.

The full reports can be found here: https://www.nineforbrands.com.au/investors/financial-reports/