Nine Entertainment Co. (NEC) Investor Presentation summary

Strategic direction and growth focus

• Strategy centers on creating value for consumers and advertisers through premium content, unique data, and integrated distribution platforms.

• Accelerating diversification in monetization, including subscriptions, licensing, and transactions.

• Emphasis on leveraging the scale and reach of the group, with disciplined investment in content, technology, and AI.

• New operating model targets over $160m in annualized cost savings by FY27.

• Bringing together streaming and broadcast assets to operate within a $12b video market, driving top-line growth and operational efficiencies.

Financial and revenue trends

• Group revenue has grown at 2% CAGR over six years, with digital and subscription revenues increasing in importance.

• Streaming revenue (Stan, 9Now) shows strong growth (+21% and +24% 6Y CAGR), offsetting broadcast advertising declines.

• Publishing revenue is now 56% digital, with digital growth more than offsetting print declines since FY25.

• AFR (Australian Financial Review) revenue has grown at 6% CAGR, with 84% of circulation/subscription revenue now digital.

• Premium content remains highly demanded, with Total TV revenue up 17% YoY in FY25.

Market position and competitive advantages

• Leading provider of content on connected TVs and publisher of metro/business titles.

• Holds significant market share in both audience and revenue across broadcast, BVOD, and SVOD segments.

• BVOD viewing for 25-54 exceeds Netflix and YouTube; Nine accounts for 19% of FTA viewing in this demographic.

• Stan Sport's Premier League launch drove record engagement and subscriptions.

• Publishing assets, especially AFR, are underappreciated by the market and deliver strong margins.