Nine’s Hugh Marks on a market that ‘wants to recover’ and positioning Stan for continued growth
Mumbrella’s Hannah Blackiston spoke with Nine CEO Hugh Marks on the future of media in COVID-19 and the success of streaming platform Stan.
Nine’s result presentation saw it become one of the only media companies to provide a guide on expected revenue for the coming months, despite the ongoing pressures of COVID-19. The September quarter, said CEO Hugh Marks, was likely to see revenue down 15%, but he had positive words for the rest of FY21.
“I think we’ve got enough track record of this stage that we have a reasonable line of sight on certainly what’s happening in the September quarter and probably even through to December, although we didn’t comment specifically on that,” he told Mumbrella.
“The market seems to be taking an approach where it’s preparing for post-COVID and wanting to go in that direction. We’re trading on a better basis than what we’d anticipated at this point.”
Marks is going a good job. Stan the jewel in the crown. Why is Domain on jobkeeper? Be good to clarify Hannah – chunky taxpayer dollars contributing to the nine portfolio.
Hi there,
I can’t tell you why Domain is on Jobkeeper, unfortunately that information isn’t available, but I can see the business included $5.4m in Jobkeeper grants in its results and $4.7m against its EBITDA. Some parts of the Domain business were hit harder than others (print for example), which may have been how it reached the numbers it needed to be eligible.
Thanks
Hannah – Mumbrella
cheers Hannah for the follow up.