Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


TVNZ half-year profit drops 26%, online revenues grow

TVNZ half-year profit drops 26%, online revenues grow

Feb. 28 (BusinessDesk) - State-owned broadcaster Television New Zealand's earnings after tax for the six months to Dec. 31 fell 26 percent to $14.2 million as advertising revenues fell and the network spent an extra $10.5 million buying programmes, including top-rating New Zealand's Got Talent.

Total operating revenues of $193.9 million for the half-year compared with $199.7 million in the same period a year earlier, with advertising revenue falling to $165.3 million, from $168.0 million in the previous period.

Operating cash flows were markedly down at $13.7 million, compared with $31.8 million in the previous period, reflecting higher payments to content providers and the loss of government funding that occurred with the closure of TVNZ7.

TVNZ declared an interim dividend of $11.3 million for the Crown, down from $13.8 million.

Going against the trend for falling revenues was a 19.8 percent increase in "other operating revenue", mainly representing strong advertising revenue and viewer growth for TVNZ's online, on-demand programming product.

"Online is a currently a small part of our revenue, but it's a big part of our future," said TVNZ chief executive Kevin Kenrick in a statement.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news