Netball Australia’s revenue increases almost 70 per cent in new deal
NETBALL Australia signed a five-year broadcast rights and revenue sharing agreement with Nine Entertainment in 2017 with advertising revenue proving the difference.
The organisation’s latest financial report lodged with the corporate regulator shows a surplus of $221,583 with Netball Australia’s revenue increasing almost 70 percent to about $26.8 million in the 12 months to December 31.
This is a significant turn around from 2016 where Channel Ten was effectively paid by Netball Australia’s sponsors to broadcast the sport on free-to-air television which recorded them a loss of almost $2.6 million that financial year.
Nine and Netball Australia have a profit-share deal for advertising revenue which has ultimately contributed to the revenues spike, with sponsorship income growing from $3.9 million in 2016 to about $12.3 million last year.
Netball Australia chief executive Marne Fechner admitting the Nine deal has helped turn them around.
“We had a big year of growth in 2017 and we think overall it was a success.”
“It was also a learning curve but we took a very different approach and we are certainly pleased with how we went,” she said.
“We worked very hard to get matches on Nine and we want to keep the momentum up.”
Bringing the sport to prime-time free-to-air television will generate higher salaries for athletes and lays the groundwork for netball to turn professional.
Sponsorship income is expected to be higher in 2018 with Suncorp, Harvey Norman and Bunnings signing new deals.