Nine boosts subscriber growth despite ‘challenging’ ad market [Video]

Nine Entertainment Co. has posted a half-yearly profit after tax of $114 million and reported strong growth among its subscription platforms despite a “challenging” ad market.

In a release to the market this morning, Nine reported revenue of $1.4 billion and group EBITDA before specific items of $316 million, down 15 per cent on the same period last year.

The media company, whose ownership includes this website, reported an 8 per cent growth in subscription and licensing revenues via its publishing arm and strong growth in streaming platform Stan.

Digital revenue now accounts for almost 50 per cent of Nine’s total business.

In a release to shareholders, Nine’s chief executive Mike Sneesby said the business had performed strongly in a challenging market.

“Notwithstanding the impact of challenging economic conditions on the …