Seven West Media reports $67m loss as group revenue slips 3.2%
Seven West Media is reporting a $67m loss on a total revenue of $773.3m for the first half of the 2020 financial year and a drop in underlying net profit after tax of 22.5%. The results come amidst tough advertising conditions, pushing the entire free-to-air (FTA) TV market down 7.0% in the half, and a total advertising market decline of 8.5%.
The company isn’t paying dividends to shareholders and has downgraded its projections for the remainder of the financial year.
CEO James Warburton is confident Seven can rally in the latter half of the 2020 financial year, despite setbacks with both the Pacific Magazines sale and the Prime merger
This surely means AFL TV rights cannot go up at the end of 2022?
Not sure Rebel Wilson, Sonja Kruger or Greg Norman can save Seven.
Truth is they have come up with a bunch of ‘stunt’ programmes that will not deliver on going numbers to underwrite advertiser confidence.
There are very big challenges ahead for Seven.
None of these “new” ideas are going to help
I don’t watch TV as it is all boring. I can’t stand reality porn, food porn, renovation porn, sport porn etc etc. The suits are in charge and any attempts at originality are efficiently eviscerated. Truly original stuff is what’s needed, but the really good stuff is made by eccentrics who cannot fit into the corporate model that they teach in MBA school. There is a structural problem in the whole industry. Good content does not necessarily need big dollars but it needs outside-the-box thinking which the Education Inquisition ruthlessly punishes as they turn out conformist clones who are incapable of original thought.
YouTube and Netflix; tis all you need. Oh and Optus for the EPL. (Don’t touch Kayo; it’s Foxtel in disguise!)
… and if Japan postpone the Olympics due to the Corona virus… Seven don’t look like they’re going to have a great 2020 either.
They lost the yearly ratings for the 1st time in about 10-11 years in 2019 and all of a sudden they are written off after 1 week of official ratings.
No I don’t work for any network I am an advertiser a student of ratings.
They need to stop trying to be everything to everyone. I advise they stick to broadcasting and sack their digital teams and commercial data team to free up some capital.
SWM in big debt trouble. Please stand up Mr Stokes and do some sort of maybe interest free loan to save SWM now at a flattering 6c considering company debt is outstripping assets by some $500mill. Please save SWM Mr Stokes with some sort of interest free loan from Seven Group funds or your own personal wealth. There are many people like me that look like getting nothing for their shares if the company goes down.