CEO Patrick Delany has indicated interested in the latest major film and television output deal from NBCUniversal, pitting it against Nine-owned Stan.
At Nine’s half-year results in February, Stan reported 2.5 million active subscribers and revenue growth of 23 per cent to $183.5 million. However, costs for the streaming service were also up 42 per cent to $161.6 million, reflecting further investment in sports and original programming. It forecast full-year earnings before interest, tax, depreciation and amortisation to come in about $25 million to $30 million. Nine’s full-year results will be reported later this month.
Mr Delaney’s comments come as the world’s largest media companies such as Disney, Netflix and Warner Bros-Discovery slug it out in an expensive war for streaming subscribers. The company unveiled plans for advertising to run on the streaming platform to help with revenue, but that was not all; Disney said prices on some plans would rise by a staggering 38 per cent.Disney’s earnings, taken with Netflix’s recent troubles with slowing growth, paint a stark picture for the global streaming behemoths. Both are spending billions on original content and struggling to put themselves on a sustainable, profitable footing.
Company executives startled Hollywood by cancelling the straight-to-streaming blockbuster movie Batgirl, telling investors it would focus on producing films that would run in cinemas and later run on its streaming platforms.
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