Seven West Media reports second-half gains as CEO Jeff Howard highlights new strategy to accelerate growth
In the second half of the 2025 financial year the company recorded a six per cent growth in underlying earnings while underlying net profit soared 33 per cent, marking the first half-year of growth since 2022..
Seven is now reaching more than 17 million Australians a month with 7plus viewers up 27 per cent and a strong line-up of new shows coming.
SWM is the owner of Channel Seven, 7NEWS.com.au and West Australian Newspapers, which publishes The Nightly, The West Australian, The Sunday Times and a number of regional publications.
SWM Managing Director and CEO Jeff Howard said the company was making 'solid progress' under its new operating model.
'FY25 has seen Seven West Media make solid progress under our new structure to kickstart growth, in line with our strategic plan. It is pleasing to report that we delivered earnings growth in the second half in line with our guidance,' he said.
'This improved performance mainly reflects the step change in 7plus audience and revenue, which is on the verge of offsetting the revenue decline in broadcast TV.
'Our investment in digital content including premium live sport and 7plus First programming has driven strong results for 7plus. We saw plus 27 per cent growth in daily active users and plus 41 per cent growth in streaming minutes over the year, which translated to digital revenue growth of plus 26 per cent.'
Total TV audiences were up 1.1 per cent in the second half while Seven's total TV advertising revenue was down only 1 per cent, driven by a 41 per cent surge in revenue for 7plus.
'The growth in our total TV audiences highlights that our content is resonating with viewers,' Howard said.
'In addition to strong growth in streaming minutes for our VOD library on 7plus, we continue to see strong engagement across all programming including 7NEWS, Sunrise, The Morning Show, our live and free AFL, Test and Big Bash League cricket coverage, and our entertainment programming including Home and Away, Australian Idol, The Voice, The 1% Club, Farmer Wants A Wife, Dancing With The Stars and My Kitchen Rules.'
In an interview with The Nightly, Howard highlighted the 7plus streaming service as a 'standout performer'.
'That momentum change I think is happening,' he told the publication.
'We're almost on the verge of 7plus growth offsetting the broadcast TV decline, which will be a significant milestone, and certainly one that gives us a very different future when that happens.
'[Excluding] the two COVID years of '21 and '22, it will be the first time Seven West Media has a positive revenue growth story since FY17, so that will be a significant turning point.'
SWM said January to April total TV revenue grew by 'low single digits' — in line with February guidance — but the market post the Federal election was 'weaker than anticipated' and cost actions had to be undertaken to stem the revenue decline.
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