Seven West Media boss James Warburton has toned down expectations of how much the network has benefited from the success of the Matildas.
Warburton’s cautious commentary came after billionaire Kerry Stokes’ media conglomerate, which owns thenewspaper, posted a 30.8 per cent slump in full-year net income to $146 million. Revenue for the period slumped 3 per cent to $1.5 billion.Warburton said Seven’s numbers had held up in a “challenging market”, with total TV ad revenue down 7.9 per cent across the year. The media company will keep its dividends on hold for a 12th successive reporting period, citing the market conditions.
The conditions imposed by FIFA have instead been a boon for the sporting body’s advertising partners – including Adidas, Hyundai, Rexona, Qantas, Cadbury, Coca-Cola, Kia, McDonald’s, Visa and Xero – with 11.9 million broadcast viewers, plus the 2.3 million streaming viewers Seven says the tournament has reached to date.
Warburton took aim at the “third network”, saying Ten was “evaporating relatively quickly from a share perspective”, and “falling by the wayside and getting weaker”. Warburton’s comments drew a strong rebuke from Paramount. “The comments made by a competitor this morning are nothing more than a deflection and reflects a business strategy that fails to recognise how media companies are diversifying both domestically and globally,” a Paramount spokesperson said.
“We have also just won five TV Week Logies Awards, more than any other commercial broadcaster, validating the quality of our content and popularity of our shows.
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