With no top-tier sport up for grabs for years, what’s Ten’s future? Local bosses say Ten shows “outperform sport”, cost less to make, and are more profitable.
The two local bosses of Paramount – the US company that owns Network Ten – have blasted suggestions the broadcaster is on the brink, and say it is instead about to report its strongest earnings result in years despite airing no top-tier sports.
While Mr Villani, Paramount’s chief operating officer, and Ms McGarvey, its chief content officer, would not confirm or comment on financials, sources inside Ten said it will report circa $100 million in underlying earnings and more than $330 million in profit for 2021.Ten last reported a profit in the 12 months to the end of August 2018, of $66.6 million, before moving to a calendar year reporting schedule under its new CBS ownership.
“We got to a point during those discussions where I think the AFL believed that we were most likely going to be their partner. We got as close as that,” Mr Villani said. If Ten execs approved that argument, how do they view their own future? The network hasn’t run a top-tier winter sport since losing the AFL in 2011, and has had no major summer sport since losing the Big Bash League cricket in 2018 to Seven. Analysts describe sport as having a promotional “halo effect” in lifting the audience of a network’s other shows.
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