He is in discussions to launch a podcast under the Newstalk ZB umbrella. One of New Zealand sport radio’s biggest names, Murray Deaker, is on the verge of a return to broadcasting, 10 years after turning off the microphone. Murray Deaker has met some of sport's biggest names. “New ways of working and undergoing a business-wide cost transformation will help TVNZ to deliver on its FY2028 profit ambitions.”įoundation work on the new on-demand platform will start this year and continue into 2024-2025.įurther on in today’s column, we look at the various challenges and scenarios facing TVNZ and our other media businesses, amid concerns some may struggle to survive. “This will include commencing work on the IP Platform … and developing a Culture and Capabilities workstream to ensure TVNZ’s people are focused on and prepared for the future. It says it has identified three strategic themes for this new financial year to help deliver on 2028 profit ambitions: extending its digital audience reach accelerating digital revenue and creating a sustainable future business. TVNZ’s statement of intent provides further context to its challenges and strategic direction. Depreciation and amortisation also contribute to the expected loss. Operating revenue is expected to be $329.9m and expenses $336m. “This will require significant investment, to be funded through cash reserves and earnings,” says the company’s new statement of intent, outlining the broadcaster’s plans for the next four years.īut the new documents reveal the steep plunge to the expected $15.6m loss for the financial year it has just started, to June 30, 2024. Traditional broadcast audiences are dropping across the world and TVNZ is embarking on a major digital and cultural transformation, including upgrading the technology and user experience of its widely praised TVNZ+ on-demand platform. It follows a balance sheet full of red ink for TVNZ’s biggest traditional competitor, Discovery NZ’s Three, over the past two years. The sudden financial fall for the state broadcaster, set up as a commercial entity, highlights the major challenges facing every media business in New Zealand – and as it embarks on significant digital investment. TVNZ is expecting a bottom-line $15.6 million loss for its 2023-2024 financial year after two years of profitability, according to new documents. Why is TVNZ’s profit set to suddenly plunge? How other media firms are faring Respected Sky TV broadcast editor’s untimely death Murray Deaker promises to cull PC ‘rubbish’.
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