Media Giant Wants Compo If Gambling Ads Are Punted
Australian taxpayers should compensate the costs of a gaming advertising restriction to media companies' bottom lines, 9's chair says.
Nine Entertainment ran gambling advertisements in a greatly regulated environment and had remained in talks with federal government over the problem, Catherine West informed investors at the group's yearly meeting.
"If we are banned from having gaming advertising, there's two things we would request for," she stated.
"Yes, some kind of payment, some kind of some other reduction elsewhere, however most importantly, that the gaming ban is reasonable throughout all sectors."
A restriction that excluded tech companies would just divert advertising revenue offshore, she said.
"Our biggest plea is is make it fair across the board, and don't downside responsible Australian media companies and permit a gambling free-for-all in terms of the ad tech platforms," Ms West said.
Gambling marketing earnings was in the low single digits as a percentage of the group's earnings and had been slipping for the past three years, the chair stated.
Polling shows about three in four Australians support a total ban on betting advertisements, but more 2 years after a landmark query into betting damage, the Albanese federal government is still mulling its action to its 31 recommendations.
A shelved proposal from Labor consisted of a restriction on betting ads during live sports broadcasts and an hour on either side, and a limit of two an hour outside of this.
Frustrated with ongoing uncertainty, the betting lobby is reportedly for age-based limitations for betting advertisements on social media accounts and lowered blackout durations in an effort to avoid a blanket ban.
Nine would comply with whatever marketing rules were bied far, Ms West stated.
"Our company believe that betting throughout the society is a collective duty for all stakeholders," she said.
"It's federal government, it's the wager inspector, it's sports organisations, media and likewise the more comprehensive community."
SBS has has actually taken matters into its own hands, providing streaming service viewers the ability to opt-out of specific marketing classifications, including betting.
Nine had not considered doing the same.
"That wouldn't work for our primary broadcast service, but we will continue to work with the government and work towards carrying out any place they come to a landing on the betting guidelines," Ms West stated.
Nine avoided a second investor strike against its reimbursement report on Friday, after its owners sent out a message in 2024 over bullying and harassment accusations.
Its executive pay strategy won the true blessing of more than 4 in 5 investors, who also voted overwhelmingly to re-elect Peter Tonagh as a director.
Mr Tonagh is set replace Ms West as chair, who will step down after 18 months in the role.
Multiple investors admired 9's financial efficiency relative to its conventional media peers, bolstered by development in its streaming platform Stan and the $3 billion sale of property platform Domain to US company CoStar Group.