Trading Update and Macquarie Conference Presentation
| Stock | Nine Entertainment Co. Holdings Ltd (NEC.ASX) |
|---|---|
| Release Time | 7 May 2025, 8:15 a.m. |
| Price Sensitive | Yes |
Nine Entertainment Co. Provides Trading Update and Macquarie Conference Presentation
- Ongoing strong content performance with audience growth across key programs
- Total TV advertising revenue increased by almost 8% in Q3 FY25
- Expect H2 Publishing EBITDA to be broadly in line with H1, with digital subscription revenue growth
Nine Entertainment Co. (ASX:NEC) has provided a trading update and presentation for the Macquarie conference. The company has recorded ongoing strong content performance through calendar 2025 to date, with highlights including Married At First Sight (Total TV audience +16% on 2024), the return of the NRL (+6% on 2024), season 2 of Stan Original Black Snow, and the Building Bad investigation. For the March quarter, Nine's Total TV advertising revenue increased by almost 8%, consistent with commentary made in February. While the election brought some money into the advertising market in March and April, the current economic and market uncertainty is impacting the outlook for the balance of the financial year. Total TV cost guidance for the year remains unchanged, with full year reported costs, ex Olympics, expected to be broadly flat on FY24. Stan continues to expect second half EBITDA growth to exceed the 16% growth reported in H1. Nine now expects H2 Publishing EBITDA to be broadly in line with H1, with ongoing strength in digital subscription revenue (+14% in Q3) and an improved H2 outlook on costs, broadly balancing the impacts of advertising seasonality. Nine Radio's Q3 broadcast advertising revenues proved weaker than earlier expectations, while digital revenue grew by more than 20% in Q3. Nine expects further cost efficiencies through to the end of FY27 of more than $100m, of which $10-20m is expected to be realised in FY25, in addition to the previous guidance of $50m in FY25.
Nine expects H2 Publishing EBITDA to be broadly in line with H1, with ongoing strength in digital subscription revenue (+14% in Q3) and an improved H2 outlook on costs, broadly balancing the impacts of advertising seasonality. Stan continues to expect second half EBITDA growth (%) to exceed the 16% growth reported in H1.