Nine Entertainment Co Holdings Limited
(ASX:NEC) has said FTA revenue share was impacted in Q3 by softer than anticipated ratings.
Nine Television revenues were down around 11 percent against Q3 FY15, with the group citing the earlier timing of Easter and the absence of the Cricket World Cup event.
The company said the free-to-air advertising market is now expected to record a low single digit decline for FY16, versus previous guidance of ‘flat to down marginally’.
Nine said it continues to focus on all cost lines, with reported TV costs expected to be at least 4 percent lower across the year, notwithstanding higher-than-expected legal expenses incurred in Q2.
Nine Entertainment recorded a net profit of $321 million at 31 December 2015.
