Nine blames cricket for revenue dip
Nine Entertainment says the full-year free-to-air advertising market will be smaller than previously anticipated, and says its share will decline largely because of a poor summer of cricket.
Adelaide Oval will host the second Ashes Test this month. Photo: Dave Hunt / AAP
Nine says the free-to-air advertising market is expected to record a low single-digit decline for FY16, down from its previous guidance of flat to marginally down.
It expects to take about 37 per cent of that after losing about 30 per cent of scheduled cricket days due to the weather.
“Nine’s summer of cricket was adversely impacted both by the weather and the standard of the competition,” Nine said in a trading update.
Nine’s third-quarter TV revenues declined about 11 per cent compared to the prior corresponding period, when the Cricket World Cup was on.
The summer of cricket included a three Test series against New Zealand, featuring the first day-night Test at Adelaide Oval, and a one-sided three-match series against a poor West Indies side.
– with AAP
