Free-to-air TV advertising forecasts downgraded by analysts

Analysts have downgraded the outlook for advertising in free-to-air television in Australia. The industry had been expecting a pickup in business in the December quarter after a weak three months to September but the lift didn't come.  Macquarie Bank researchers, in a note to clients, headline their report: “On track for worst half of TV ad market declines since the GFC!” The reassessment of TV advertising comes after a trading update by Nine last week at its AGM saying the market is expected to decline by mid-single digits across the full financial year. "The prevailing weakness in consumer sentiment in Australia has manifested itself in weak trading conditions for many consumer-facing businesses, and general softness in the overall advertising market," Nine says. Brian Han, senior equity analyst, Morningstar: “The current malaise in the advertising market has caught up with Nine Entertainment.”

Spotlight

Spotlight

Related News