One-off events not the path to a profitable media business warns Nine boss Hugh Marks
Spending money on big one-off but unprofitable events like Seven’s Olympics investment could hurt a media company in today’s industry environment, Nine boss Hugh Marks has warned.
Following the release of the company’s half yearly results this morning, Marks told Mumbrella Nine’s “underlying” efforts – not one off events – were what really mattered, warning against spending money without a clear return in sight.
Marks is confident the company can continue to deliver, but it’s about total revenue
Sounds a bit like the cricket that, only a few weeks, ago NINE were sprouting they lost money on but who have then put in an aggressive tender to take all cricket broadcast and production rights.