Nine Entertainment Co has released its results for the 12 months to June 2021. For the year, the The company reported revenue of $ 2.3 billion and after-tax net income of $ 184 million, which included a specific after-tax expense of $ 94 million.
Nine notable results
• Combined Television EBITDA (FTA + BVOD) growth of 73% on revenue growth of 12%
• 2.4 million active subscribers driving revenue growth of 29% at Stan
• Growth of 40% of digital revenues to 44% of the group’s total
• Conclusion of license agreements with Google and Facebook
• Launch of Stan Sport with 250,000 active subscribers
Mike Sneesby (above), CEO of Nine Entertainment Co, said: “After a year that started in the depths of Covid, we are pleased to report 43% EBITDA growth for fiscal year 21. Well While this growth was consistent over both semesters, the drivers for each semester were quite different, underscoring the strength of Nine’s combination of ad assets and subscriptions.
“We have also been successful in continuing to expand our business footprint, particularly in areas of market growth. Across television, we have carefully invested and expanded the reach of 9Now, while continuing to grow subscribers at Stan and launching Stan Sport.
In the field of publishing, this growth has manifested itself in a larger audience and a greater number of subscribers, which have been strengthened by the successful conclusion of licensing agreements with Google and Facebook, which gives us a stable and additional source of income.
“Although the past year has been difficult, we have been able to lay the foundation to execute our long term strategy. Our television and publishing businesses have both reached critical inflection points. The growth of 9Now, coupled with some recovery in free streaming, has resulted in a combined TV business that we believe can now steadily grow revenue throughout the cycle.
In publishing, digital subscription revenue has now passed $ 100 million, with print sales growing more than declining. Coupled with our ability to further monetize the digital distribution of our content, this will allow us to continue to invest in leading journalism in Australia and focus on profitable business growth.
“It’s an exciting time to have taken the reins of Nine, and I congratulate the team on how well they met the challenges of 2021. We are starting FY22 with strong momentum in all of our activities – in terms of ‘audience and revenue, advertising and subscription.
“With the foundation of Nine’s unique assets, strong cash flow and a supportive board of directors, we have a clear vision for the future as an Australian media company. “
See also: New research by Nine reveals advertising “blind spot” for 55-64 year olds