Report Overview

Nine, SevenWest results reflect COVID19 rebound, transition to digital


Key Takeaways


Nine Entertainment Corporation 1H21 update

SevenWest Media 1H21 update

Declining free-to-air ad market

Defending the core

Cost reduction measures making headway

Digital growth

Other businesses

Stan provides another lever of growth for NEC

Domain – subdued performance driven by macro weakness

Studios remains a steady performer for SevenWest



Figure 1. NEC 1H21 performance (A$m)

Figure 2. SWM 1H21 performance (A$m)

Figure 3. Half-yearly Metro FTA advertising revenue growth (%, YoY)

Figure 4. Australian TV advertising revenues by sub-segment (A$m)

Figure 5. WM Digital and NEC BVOD revenue (A$m)

Figure 6. Stan paid subscriber base (in millions)

Figure 7. Seven Studios EBIT (A$m)