TVNZ announces huge rise in post-tax profits

File photo / Doug Sherring
File photo / Doug Sherring

TVNZ is claiming the biggest viewing figures for shows in the entertainment, news and current affairs categories as it announces a huge rise in its post-tax profits.

The state broadcaster this afternoon announced a net profit after tax of $20.8 million in the six months to December 31, up 47 per cent on the same period in 2012.

Chief executive Kevin Kenrick said the highlight of the result was the strong growth in operating earnings, fuelled by increased advertising revenue and a 10 per cent reduction in non-programming costs.

TVNZ aired 18 of the 20 highest rating shows in that period, Mr Kenrick added.

New Zealand's Got Talent was the country's most watched entertainment show, One News the most watched news programme and Sunday the most watched current affairs programme.

"TV continues to be the nation's favourite pastime with the average kiwi watching three hours of TV per day,'' Mr Kenrick said.

"One of the real success stories for this period has been the performance of TVNZ Ondemand - which is a huge hit with both our viewers and advertisers. Total streams for the half year are up 88 per cent.''

Mr Kenrick said TVNZ's increasingly integrated approach to on-air and online content was popular with viewers.

"Our content now follows viewers from location to location, from their TV screens to their desktops, their smartphones to their tablets. Coverage of the 2013 America's Cup in September was a great example of this kind of on-air and online integration.

"At its height, TV viewing peaked at 1.2 million on TV One and live streaming topped a quarter of a million people on onenews.co.nz.''

Mr Kenrick said he expected the broadcaster's "strong slate of new season content'' to ensure it would achieve, if not exceed, its full-year statement of intent forecast.

But it would write off its remaining minority shareholding in digital TV service Igloo because of uncertainty around the timing of future profits.

- NZ Herald

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