As the advertising market continues to soften due to COVID-19, media companies are all tightening their belts and laying off staff
It hasn’t been a great week in the media sector with stories of redundancies at Seven and Bauer. Indeed, today News Corp announced advertising revenue was down 45% in April. And while Nine Entertainment is in a strong position financially, it too is feeling the impact of the soft advertising market.
This week the network has quietly been making a small number of people redundant as it looks to save about $10 million from its overall news budget. The impact will be felt across 60 Minutes, 9 News, A Current Affair and the Today show.
Importantly, TV Blackbox understands the cost-cutting measures will look at smarter ways of producing content rather than lay-offs. For example we can expect to see more Skype crosses even after the pandemic lockdown has passed and travel will be pulled back.
Sources tell us many lessons have been learnt during the COVID-19 crisis on how to do things smarter… and cheaper.
What’s unclear is whether the Today show will stay in the automated studio it is currently using. The current set-up is a money-saver to be sure, but has also limited what can be done on set and (in my opinion) the show has lost some of the dynamic nature needed in breakfast television.
The Today show is now coming a distant third behind ABC News Breakfast but the low ratings are not affecting revenue yet. The program still gets about 40-45% of the breakfast TV dollar as the ABC is not a commercial venture.
Nine has declined to comment.
Iwas a Today show devotee. However I turned off due to the presenters trying to be comedians and constantly talking over each other trying to be the loudest funniest idiots. This format has been deteriorating for at least 3 years. The females are the worst. Some news and a little banter is ok. But keep it simple guys, we just want to hear what’s going on in Australia.
I agree the women are dreadful
The return of dismissed “Stuffanovic” has impeded any progress and CH 9 will sink until they sack him again. Australia’s not wanted breakfast host will force Langdon to capitulate or trigger her parachute clause to escape the carnage. A fish rots at the head and support for him in CH9 on results must be waning. We are now June and tatings struggling to beat any other station.