While its costs are coming under control, yesterday Ten Network Boss Hamish McLennan admitted poor ratings performance had played a big hand in the company’s $243.3 million loss.
Now, the station is going to try and chase an older demographic, and is currently exploring the ramifications with advertisers.
When Ten said ratings were an issue, it wasn’t kidding. This graph from a Commbank research note this morning shows the station’s rating share between 6:30 and 10:30 pm, compared to its major competitors.
Ten’s hoping that targeting a new demographic, and a host of new shows — including the latest instalment of weight loss franchise The Biggest Loser — can turn things around.
But there are positives. Commbank agrees that the company’s balance sheet and cost structure have been addressed.
Yesterday in the results release, Mclennan said the station now has the “healthiest balance sheet” in the Australian media sector.