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Network 10 Reaffirm Sports Broadcast Comeback

Football Australia

Network 10 Reaffirm Sports Broadcast Comeback

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etwork 10 has revealed its 2020 financial results, saying it wants to be the “home of football” and return to Australian sports broadcasting.

Ten came back into the sports broadcasting market this year as ViacomCBS has secured a deal with the Australian Professional Leagues (APL) for the exclusive rights to broadcast the A-League and W-League on Network Ten and Paramount+.

The network is in the final phase of merging ViacomCBS and Network Ten businesses in Australia, which has cost the business $17 million in restructuring costs.

ViacomCBS will launch its new paid streaming service next week, Paramount+ replacing its current offering 10 All Access.

ViacomCBS-owned Network Ten has reported a $3.4 million after-tax loss resulting from COVID-19, following an Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) revenue of $583 million for the 2020 financial calendar year.

Overall, Network Ten reported its net current asset position as $73.8 million and positive equity as $43.5 million as at the end of the 2020 calendar year.

Network Ten chief sales officer, Rod Prosser, said: “We want to be the home of football.”

“And if that includes the World Cup, then excellent.

“But obviously, there’s so many different factors that determine whether that would be in a Ten/ViacomCBS stable.

“That’s obviously being worked through,” Prosser said.

Network 10 encountered the impacts of COVID-19 after the cancellation of the Formula One Australian Grand Prix and 2020 Australian Moto GP, which the network held broadcasting rights to.

The cancellation of these two events wrote off $32.2 million in provision for onerous contracts.

The network reported a $4.2 million loss in write-downs of program rights.

As part of Ten’s broadcast rights deals with Australian Professional League and Football Australia, it plans to incorporate local football stars into these shows as part of broader contra investments to boost the standing of the football properties and increase audiences.

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