In cost cutting we trust: Nine sounds alarm over soft TV ad market
Catherine West addressing the AGM
Outgoing Nine chair Catherine West has echoed Seven’s Kerry Stokes comments a day earlier, firmly blaming global digital platforms for the misfortunes of local media, while the company told the market its TV revenues were down between 5-9% in September and October.
Like Stokes, West was addressing her final shareholder AGM.
“Our industry is facing increasing pressures from predominantly US-centric international tech platforms that have demonstrated little regard for accurate information, or Australian culture and democracy,” she told investors.
“Fact-checking and content protections have been abandoned. Tech giants have become flagrant in the illegal scraping of our journalism and cases of dangerously inaccurate information from AI models are increasing.”
