Ten posts $312.2m loss after writedowns in licences despite vastly improved TV revenues

October 26, 2015 9:36

Network Ten has posted a $312.2m loss for the 12 months to August 31 despite an improved ratings performance in 2015 with shows like Family Feud, Masterchef and The Bachelorette and The Bachelor.

While the overall loss is up on 2014’s $170m deficit, Ten (ASX: TEN) also reported an improvement in its earnings before interest and tax (EBIT) which went from a $79.3m loss last year to a loss of $12m this year.

Today’s results come as Ten’s management put the company into a trading halt to allow Foxtel to take up its shareholding, following last week’s approval by the competition and media watchdogs the ACCC and ACMA.

Ten’s revenues increased 4.6 per cent to $629.3m while the TV network’s costs decreased 6.5 per cent.

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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4 COMMENTS

A sufferer 26 Oct 15

if 10’s revenue was up 4.6% what was the overall market up/down?, Share of the pie is the key indicator.

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Kristof Stevenson 26 Oct 15

Who watches TV anymore? Netflix is the future.

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Streamer 26 Oct 15

“Anderson confirmed that 2016 would see the return of TV franchises I’m a Celebrity, Shark Tank, Masterchef, Gogglebox and The Bachelor/Bachelorette.”

Oh, ok. Here’s me thinking they were attempting to make money next year.

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Dave 27 Oct 15

This looks startlingly like a Big Bath http://www.investopedia.com/terms/b/bigbath.asp

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