Seven West Media has reported a significant drop in profit, making just $17 million on $1.4 billion in revenue for the last financial year. The media company, controlled by chairman Kerry Stokes, owns Network Seven and The West Australian news group. Seven West Media operates free-to-air Network Seven and publishes The West Australian newspaper.
The television market is experiencing a broad pullback in advertising revenue as companies increasingly shift their marketing spend to online platforms such as Facebook, Instagram, Google, and streaming services like Netflix. This shift has significantly impacted traditional media outlets, including Seven. The company’s overall revenue fell by 5 per cent, while profits plummeted by 63 per cent. In response, Seven implemented a 2 per cent cost reduction strategy but did not declare a dividend.
Revenue for the television network decreased by 5 per cent to $1.2 billion, and its publishing arm saw a 3 per cent revenue decline to $169 million. Like other free-to-air broadcasters, such as the Nine Network, Seven is focusing on its free streaming platform, 7plus, to counteract the decline in traditional advertising revenue. Chief Executive Jeff Howard noted that revenue from 7plus increased by 41 per cent in the second half of FY25.
