Seven West Media Upgrade FY22 Guidance
Seven West Media is expecting a bumper financial year, upgrading its guidance today for FY22.
The broadcaster, who is in talks to purchase Prime Media, is now expecting EBITDA to be $260million, 7-10 per cent higher than previously indicated.
This comes as the company claims to be “well-positioned to capture metro TV market share of 40 per cent in 1H of this financial year.”
“Seven West Media is well positioned for future growth, with ongoing delivery of transformation program benefits, great content to distribute across multiple platforms, and improved balance sheet having refinanced its debt facilities,” it told investors.
CEO Ryan Stokes said free-to-air ad spend grew by 32 per cent over the 12 months to September, while BVOD viewing time increased 40 per cent since then.
“Seven West continues to evolve its digital platform and offering to take advantage of available opportunities,” he said.
“This year Seven West is forecasting EBITDA of $120 million from digital, up 100 per cent.”