Ten Network Aims 30 Percent Market Share

Nick Falloon, the executive chairman of Ten Network (TEN) has stated that the Australian advertising market was getting stable and improvements could be seen in the industry. He also added that the number of viewers has increased and the talks regarding the advertising rates might help the Network with its goal of securing 30 percent of the market share that it previously aimed to pursue. Mr. Falloon also added that Ten Network is giving more concentration on its costs and cash flow and the normalised TV broadcasting expenses of the network may rise to the same level of the current inflation rate by August 31st. The chief executive made these comments while he was speaking in the annual meeting of Ten Network.

In his speech Mr. Falloon claimed that the stronger rating helped the company to get itself into a stronger position for the negotiations to get the contracts renewed with major advert-buying groups and his company has substantially completed the negotiation with the major buyers for the year 2010. Mr. Fallooon stated that the impressive rating of this year along with the negotiation will play a key role on Ten Network’s mission to achieve 30 percent of the market share.

The 2010 financial year television expenditure will incorporate the AFL Grand Final during the first quarter, a full-year of ONE and the return to a normalised revenue of sales and incentives for executives. The investors were also informed that Ten Network was reviewing a divided policy about which the shareholders will be updated at the announcement of the 2010 fiscal year first-half results. It is to be mentioned that the Network reported a 47.4 percent drop in its normalised profit for the fiscal year that ended in August. The statutory result for Ten Network was an $89.35 million worth of net loss and the Network did not pay any final dividend. Earlier today, the shares of the company went up by 0.32 percent.