“Adequate” is the word of the day for TEN.
At the Annual General Meeting today Chairman Lachlan Murdoch told shareholders, “Ten performed adequately until August with returning shows such as MasterChef, The Biggest Loser and Offspring combined with some strong US content such as Homeland and Modern Family providing a good foundation.”
Acknowledging a poor Spring programming schedule and a downturn in advertising he outlined measures to improve the network’s performance including recent cost cuts, and announced a $230 million capital raising exercise.
He also said, “The Board is determined that Ten must return to levels of adequate performance.”
CEO James Warburton outlined the network’s “promise” for 2013:
– Firmly locked in schedule
– Programs in consistent slots
– A full 40 week programming schedule (a typo had 2012 not 2013)
– Stability in early evening Monday to Friday via TEN News At Five, The Simpsons, The Project, MasterChef, The Biggest Loser.
Warburton said that at the recent Upfronts he told advertisers the key for 2013 was consistency, stability and better results.
“We told them our constant aim is to inspire our viewers, surprise them, provide them with insights … and do all this, at times, with an irreverent twist,” he said.
“We told them our aim is to entertain Australians with authentic, accessible content.
“For 2013, TEN will offer viewers and advertisers a stable, consistent schedule. Key, familiar and successful brands such as MasterChef, The Biggest Loser, The Project, Modern Family and so on will stay firmly locked in the schedule.
“Sunday nights will be the home of premium international drama. Can of Worms will stay on Monday nights. NCIS and NCIS: Los Angeles will stay on Tuesday nights.
“The Living Room will stay on Friday nights. Wednesday night will remain quality Australian drama night on TEN next year.
“Creating a schedule with consistency for viewers and advertisers is critical to TEN’s success.”
Other 2013 strategies include
– A new program commissioning structure
– A focus on programs that match the TEN brand attributes of “smart, different, authentic”
– An expansion and revamp of core franchises MasterChef and The Biggest Loser
– An expansion of local drama slate including new seasons of Offspring and Puberty Blues plus new series Mr and Mrs Murder, Wonderland, Reef Doctors, Batavia, Secrets & Lies: The Track
– New overseas series including Elementary and Ripper Street
TEN also acknowledged its post Olympic revenue share is at historical lows.