Seven West Media reports worst ever half-year profit
In its first half-year financials for FY25, Seven West Media has reported low revenues and its worst profit in a half to date.
SWM’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) was at just $92 million – marking a record low for the media giant – as it fell 26% or $32 million on H1 FY24.
And for the six month period ending December 31, 2024, group revenue was at $727 million – down 6%, or $48 million.
That astrologist on the evening news should have warned them.
Australian Idol will fix it.
As a proud dad of Kurt , we, and his family are pleased to have Kurt back living a normal life,
His 24/7 dedication to his role at SWM prevented normality of every day life.
Coming from orphanage/ navy background, we installed in Kurt honesty, honoring his handshake, loyalty etc . He had four job opportunities, one during James W, departure after his 1st CEO period, Kurt’s response dad I can’t let Kerry down , I will be needed , he gave me opportunities, it’s time to repay him ,
My advice was $s and position can’t buy time with family, luckily for our close family, G Howard has given kurt longevity, by termination of our son. Who understands the best investment a leader can make, is investing in your people, in any industry.
Kurt to this day still considers Kerry Stokes a friend, that sums up kurt.
Well, this headline is very different to the one Mediaweek went with.
Amazing how some news outlets find the real story—and how some just reprint the press release.
“Forced to make redundancies”, sure, like the tens of millions of dollars couldn’t have paid for the salaries of the staff that they shafted.
Employment law is too relaxed for big companies who decide to cut jobs on a whim these days.
Why on earth did Seven sack chief marketing officer Melissa Hopkins, chief revenue officer Kurt Burnette and Seven Melbourne’s head of sport and managing director Lewis Martin? The top Network earners!
It’s beyond belief and the direct results of those sackings are the low revenues and Sevens worst profit in a half year to date.
Maybe the Board needs to take a serious look at the top executive echelon and their performances in the last 6 months or so!
Well, this headline is very different to the one in Mediaweek.
Hardly surprising given the disrespect and disdain the SWM treats viewers, espcially in Sports, but generally. The most demonstrably clear example is the recent Test Series in Sri Lanka. Cricket Australia possibly should shoulder some of this shambles of a coverage though in offering exclusivity [!] to SWM. Quite contrary to their responsibility to ‘grow the game’ in such a competitive market when next-gen are past their bedtime to see the majority of the game. Impossible to navigate across the various Ch7 platforms anyway. Ditto horse racing for others. Shameless exploitation with little understanding of Cricket and expectations of cricket-people including overruns of excessive ads into play. Didn’t this also happen in of all spectacles the AFL Grand Final?
Amazing how some news outlets find the real story and some reprint the press release
Where is the verification of the ad market being down so substantially? How much did spend decrease last quarter in the entire ad market and what other media sectors have benefited ?
I guess if the CEO says the market is down and money is going to just bounce back to TV then it must be true ….. if only every other ASX CEO could get away without the media checking and verifying their statements !
I think if you look at the previous CEOs track record with these media companies, the forensics will make sense