Seven West posted a net profit of $184.3 million for the full year to June 25, 2016, compared to a $1.89 billion loss the year before.
Financial Highlights for Seven West Media : –
Financial Highlights (Source – Company Reports)
Seven warned that earnings before interest and tax would probably fall 15 to 20 per cent this financial year.
The Olympics will be a testing ground for Seven as it tries to identify new ways to monetise not only sports rights, but the rest of its content, to address the shift of viewers to multiple screens and platforms.
Advertising revenue is declining across TV, Newspapers and magazines. Digital is the strong performer
Advertising Revenue (Source – Company Report)
Seven West said it was moving into live-streaming and further expansion of its PLUS7 platform on Yahoo while also investing in content creation in international markets, including a British drama production company and expanding production into New Zealand.
Shares in Seven West Media posted their biggest intraday loss in four years, slumping 13 per cent. Shares were trading at $0.90 by 11:36am (AEST), its lowest price in four months.
Seven is forecasting the television advertising market for the 2017 financial year to be flat to down in the low single digitals.