Lots going on at MediaWorks with NZ Today, 7Days and MAFS either dumped or severely amputated.
MediaWorks won the ratings battle but lost the revenue war.
Their radio arm continues making dollars, but TV is incredibly expensive.
They have spent up big with large productions to gain ratings, but there simply isn’t the advertising market to support those costs.
The market has been broken because Facebook and Google have sucked all the advertising revenue out of NZ.
Long term solutions are either making TV One advertising free (which would force advertisers to move to TV3) or a special media tax on transnationals which is ring fenced and put back into NZ broadcasters.
Short term solutions for Mediaworks are cutting expensive programs like The Project and replacing them with cheaper studio based operations using broadcasters like Paul Henry who have the ability to generate outrage while keeping a large audience.
MediaWorks will need to scout for broadcasting talent who can do their thing inside a studio rather than expensive writers and costly post production. The short term future will be more like talk back radio with pictures that can generate ratings and gain advertising profit from greatly reduced costs.
The impetuous is now on the Government to restructure the market.