CanWest MediaWorks chairman Tom Strike. Getty Images / Jeff Brass
CanWest MediaWorks chairman Tom Strike. Getty Images / Jeff Brass
KEY POINTS:
TV3 owner CanWest MediaWorks (NZ) today reported earnings before interest, tax, depreciation and amortisation in the November quarter rose 3 per cent to $24.3 million.
Revenue rose 2 per cent to $74.5m with television and radio revenue combined up $1.7m.
Chief executive Brent Impey said that following thepositive start "we are cautiously optimistic about the remainder of the financial year".
"Analysis of forward advertising bookings to the end of March, across both radio and television, indicated that optimism was appropriate from a revenue perspective," he said.
CanWest MediaWorks chairman Tom Strike said the group, which has extensive radio networks had had an excellent start to the new financial year.
He said the advertising market had recovered from a somewhat challenging winter.
Mr Strike said the rise in television revenue was due to a combination of strong audience levels for television, and a general improvement in economic confidence.
Mr Impey said TV3's prime time performance had experienced record audience shares in October and November.
"We have not only been winning share in TV3's target demographic, but we have also been winning our competitors' target demographics."
He said 3 News averaged a 40 per cent share of its target demographic of 18 to 49 year-olds, compared with 28 per cent watching TVNZ's One News.
Mr Impey said RadioWorks had also had a pleasing first quarter.
"The latest nationwide radio audience survey shows that RadioWorks collectively increased its total audience by more than 18,000 listeners per week, while our competitor shed a similar number of listeners," he said.
"In the all-important consumer demo graphic of 18-49 year olds, RadioWorks currently has the highest share of audience of any radio company," he said.
TV3 is expected to get a boost next year from its rights to the screening of the Rugby World Cup from France.
