Prime Media posts $12.28m loss after decline in TV advertising revenue

August 29, 2018 10:03

Prime Media Group has reported a revenue and profit slump in its latest annual report as the company deals with a softer regional TV advertising market, writedowns on its broadcasting licenses and increased programming costs.

The regional Seven affiliate network reported an 8.7% fall in revenues which tipped the company into a $12.28m net loss after tax, down from a $56m profit the previous year.

Prime CEO Ian Audsley said the earnings were “a good result in an otherwise challenging year”

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Paul Wallbank

Paul Wallbank was news editor at Mumbrella between June 2017 and June 2019. Previously he's covered business and technology issues for outlets ranging from The Australian and Sydney Morning Herald to the ABC and Business Spectator.

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1 COMMENTS

Adrian Hawkes 25 Jul 19

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Jordan Blackburn

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