• Strong momentum across wholly-owned businesses with 6% growth in digital revenues
• Successful Olympics campaign, profitable and cash flow positive
• Refined operations with a focus on growth in Streaming & Broadcast, Publishing, and Marketplaces
• Disciplined cost performance with more than $80m of costs removed

Nine Entertainment Co. Holdings Ltd reported strong performance in FY25, with 6% growth in digital revenues, 10% growth in subscription revenue, and a 13% increase in second half profit. The company saw significant audience growth across its assets, reaching over 20 million Australians in FY25. Key highlights include the successful Olympics campaign, which was profitable and cash flow positive, and the introduction of advertising on Stan. Nine has refined its operating model to focus on growth in Streaming & Broadcast, Publishing, and Marketplaces, with a strong emphasis on content, data, and technology. The company has delivered more than $80 million in cost savings, of which $60 million is classified as ongoing. Nine has also announced the sale of its 60% stake in Domain for $1.4 billion, realizing significant shareholder value. The company is focused on organic growth opportunities and operational efficiencies, with a target of delivering $150 million in annualized cost savings by the end of FY27.

Nine expects to deliver continued EBITDA growth in H1 FY26, driven by its core digital and subscription assets. However, the company has limited visibility on advertising market conditions in H2 FY26. Total TV revenue and costs in Q1 FY26 will be impacted by the Paris Olympics in July-August 2024. Stan is expected to see revenue growth in FY26 that will more than offset higher costs associated with the Premier League and UEFA rights.

Nine remains positive about the momentum in its business, underpinned by its core digital and subscription assets. The company expects to continue investing in content and technology across its mastheads and Drive to support longer-term growth. Nine has announced a new commercial structure for its Total Audio business from July 1, 2025.