Regional TV broadcaster Prime Media says advertising markets remain challenging.
Regional broadcaster Prime Media says advertising conditions remain tough after achieving a small lift in annual revenue.
The majority of the company’s television content is provided by Seven, and it broadcasts in northern and southern NSW, Victoria, the Gold Coast and all of regional Western Australia.
Prime’s revenue edged one per cent higher to $260.3 million in the year to June, reflecting subdued advertising markets.
Chief executive Ian Audsley said that trend has continued.
“Trading conditions for the first half of the 2015 financial year have been mixed, particularly given the absence of federal election advertising revenue that was present this time last year,” he said.
But a strong programming schedule, supported by Prime’s own local news programs, gives the company confidence it can maintain audience share, he said.
Prime’s net profit of $33.9 million in 2013/14 was up 68 per cent from the prior year, due to a $13.4 million charge in the previous year related to the sale of Queensland radio assets.