Question 1

Which network is currently leading the Australian television market?

Accepted Answer

NEC has overtaken SWM to secure market leadership with a 38.0% primetime share, a significant increase from the 35.6% recorded in the prior corresponding period. SWM’s share has simultaneously declined to 37.4%, down from 40.4% a year ago.

Question 2

Is the audience for main broadcast channels shrinking?

Accepted Answer

Audience fragmentation is accelerating as viewers migrate to secondary digital offerings. Multi-channels now capture 33.1% of the primetime audience, up from 31.0% in previous surveys, signaling a permanent shift in consumption habits.

Question 3

How will these ratings shifts impact advertising revenue in 2015?

Accepted Answer

Network 9 is positioned to dominate the market with a forecast 60 basis point gain in revenue share, reaching 39.3% in FY15. This growth comes at the expense of competitors who are struggling to maintain yield amidst shifting viewer loyalty.

Question 4

What is the financial outlook for the major commercial networks?

Accepted Answer

NEC remains the preferred pick with a target price of A$2.72 based on its superior asset mix. In contrast, SWM faces severe structural headwinds, including a projected 40% decline in print EBITDA by FY17 and a net debt to EBITDA ratio of 2.5x.

The TV Guide – Survey 10

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