Mike Sneesby & Michael Stephenson on why Nine is ‘Australia’s media company’
Following the release of Nine Entertainment Co’s 2021 financial results, CEO Mike Sneesby and chief sales officer Michael Stephenson go behind the top-line numbers with Mumbrella’s Zanda Wilson.
Nine Entertainment Co reported strong revenue growth in this week’s financial results for the full year ending 30 June. Group revenues rose 8% to $2.3 billion, while NPAT was up 76% to $184 million.
Most of the multi-media giant’s segments recovered well, following the losses of 2020. Revenue was up across television, including both free-to-air and 9Now, while Stan continues to be a local success story against global competition. Revenue down 11% across radio, while publishing revenue shrunk 3%. Both segments are undergoing a slower recovery following a 2020 that proved challenging for the company, which is increasingly using the tagline ‘Australia’s Media Company’.
“It’s a statement of reality,” CEO Mike Sneesby says. “I’ve spoken about it at the Macquarie Conference and in market. If you look across Nine as a business now, we have a unique set of assets across every category of media. And we really are very different to the Nine and Fairfax of old.
