“Adequate” TEN raising $230m

By David Knox on December 6, 2012 / Filed Under News 22

“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.

22 Comments »

  1. AEDDIE December 7, 2012 at 1:28 pm -

    I hope TEN comes up with a new breakfast and morning show soon. Anything would be better than what they are showing at the moment.

  2. William December 7, 2012 at 12:27 pm -

    pietro- They are bidding for the V8s. Which hopefully goes to TEN which has been reported around $350mil. V8s will be announced in the 2 weeks to come. If they do win it what ever is left over they will bid for the CA rights.

    Cricket Australia expires 31st of December. Providing that TEN or Nine are in a strong position providing that if Seven has enough money from their record AFL $1.253billion.

  3. tmorgan96 December 7, 2012 at 11:07 am -

    Elementary could be to Ten in 2013 what House was to Ten in 2004. Can’t wait for the premiere.

  4. James 666 December 7, 2012 at 10:37 am -

    Adequately underperforming ………

    A terrible state of affairs and no end in sight other than a cliff !!

  5. pietro December 7, 2012 at 9:39 am -

    It is being reported they will bid for the cricket rights, which might be $600 million or more.

    I guess I don’t understand the economics but how would they pay for this?

  6. Kenny December 7, 2012 at 9:08 am -

    @adrenalin1 – ABC1 beat TEN most nights of the week over the past many months. As for the “demos” card, there are a few million viewers over 54. Some actually live to 103.

  7. Steven G December 7, 2012 at 6:30 am -

    Advice to 10, just because you can have 4 channels doesn’t always mean you should have 4 channels. Lachlan call me, I have a plan !

  8. A. December 7, 2012 at 1:52 am -

    I hope they will be consistent. But actions speak louder than words. I’m personally curious about some of the Australian series. But especially Elementary. I hope I could watch it. I also wish they’d play the end credits like they do with Supernatural i.e. next week ad then the credits in full.

    I also wish them good luck for next year.

  9. Kuttsywood December 6, 2012 at 6:25 pm -

    An easy way to begin regain credibility: put Glee back on! Ten didn’t even bother to put a promo on the end of the episode last week, instead announcing that it won’t be back until 2013, earlier this week on their official Facebook page for Glee.

    Ten needs to take one drastic step though: offer streams of their channels via iPad, like Foxtel have done.

  10. adrenalin1 December 6, 2012 at 5:55 pm -

    @jshaw the ABC didn’t beat TEN this year. Not overall and not in any demographic.

    But it’s clear Warburton has inherited a basketcase.

    9 is lucky thought they’re not the focus, in an Olympics year it’s rare the hosts don’t win overall.

  11. steveany 2.0 December 6, 2012 at 5:21 pm -

    @David – Ahhh, oops. You’re right – it’s probably not the huge compliment I intended!!
    I meant it in the sense that he (GAB) seems (or seemed ) to be the first port of call whenever there was a music-related story in the media.
    Sorry for any other inference – no offence intended :-)
    On the other hand, between us we’ve smacked GAB on the nose with a rolled up newspaper very hard indeed!

  12. advoc8 December 6, 2012 at 4:32 pm -

    Stall Stall Stall….Blah Blah Blah…..Anything to leave the AGM with their heads still attatched.

    This so called “2013 Promise” is nothing but stalling tactic BS 101, because what is so special about Midnight 31-12-12, is some one going to wave a magic wand, and are the other networks going to program around Ten’s Rigid scheduling to avoid competition, Not Likely!.

    How about regaining “Lost Credibility Now” ,eg bumping, Saving Grace and Letterman etc( without any warning or notice whatsoever) even if it gave us a much appreciated repeat/encore of the The Project, but the repeat/encore was never mentioned during the long running promo for the 6-30pm time slot change, and ask how long does Ten intend to give us the Project encore,(or does this disappear Midnight 31-12-12?),why not Dump the Late News(someones pet program perhaps?) and replace it with the Project, and Ten may be will be surprised with the numbers it attracts.

  13. jezza the first original one December 6, 2012 at 4:13 pm -

    Anecdotal evidence….my 2 kids are in the ch10 target demo, they like a few of the shows, but hardly ever watch them on tv at the time of broadcast (due to the hopeless start times). Some of the overseas shows are watched on dvd or in other ways, but only when ‘they’ want to watch them.

    This current gen will not put up with late starts and crappy schedules, they will simply bugger off and be gone for good. It will take a huge effort, sustained across the year just to stand half a chance of recovering. Don’t be surprised if ch10 ceases to exist, 2nd 200mil cash call in less than 18 months, share price at an all time low, rapidly changing landscape that the mgmt simply cannot grasp…..not a good look

  14. jshaw December 6, 2012 at 4:11 pm -

    Nothing will change at TEN in 2013 while Lachlan Murdoch is in charge.
    The ABC will beat TEN again in 2013

  15. David Knox December 6, 2012 at 4:00 pm -

    It was predominantly a finance story. Is it a compliment to be compared to Glenn A. Baker? Just checking.

  16. steveany 2.0 December 6, 2012 at 3:43 pm -

    Ten has shown such an inability to learn from it’s mistakes over the past 18 months it’s hard to believe this is any more than a spray for the shareholders benefit.
    The 7.30 Report did a segment on Ten’s woes last night and interviewed some experts who predicted that Ch10 will stay at No.4 for years to come. Bit surprised you weren’t asked for an interview David K – you’d be the Glen A. Baker of TV these days, surely? ;-)

  17. Kenny December 6, 2012 at 1:59 pm -

    16-39 last night. #1 and #3 shows went to TEN, #2 and #5 to 7, #4 to 9, so TEN scored best.
    From what I’ve noticed, smart phones and tablets may be in use, but on Facebook, while the TV is still on, but often on a “secondary” channel. There are still the same number of viewers to be shared by 15 channels, compared to 5 channels not so long ago.

  18. Secret Squirrel December 6, 2012 at 1:34 pm -

    This.
    – Firmly locked in schedule
    – Programs in consistent slots
    – Stability in early evening Monday to Friday

    I and many others have been saying these things for a while now. It’s heartening to see that management seem to be finally taking them on-board. Time will tell whether this is representative of a new Ten that truly wishes to engage with its audience, or whether this is merely lip-service.

    – A focus on programs that match the TEN brand attributes of “smart, different, authentic”

    So that would be no more Bungle or Shite, then. They might have been different (from quality programming) but they were only as smart as Ms Bingle appeared to be (ie not much) and they were as authentic as Vernessa and what’s-her-face’s boobs (not at all).

    Good luck Ten. I might become a shareholder when they get down to around 10c.

  19. ph December 6, 2012 at 1:18 pm -

    If only Ten would embrace the new technology. Its not going to go away. As has been reported people can watch a show live, have encore screenings on multi channels or even on catch up TV a few days later. I never watch commercial TV live anymore I PVR everything and watch the ABC. As Mr Warburton said a locked in schedule and programs in consistent slots is great but its the late start times I hate. I do hope that Ten stand by what is said and get on board with how the 16-39 demo now live.

  20. Guy December 6, 2012 at 1:11 pm -

    If i were TEN Elementary has to go Sundays at 8:30pm, Mondays 8:30pm is the timeslot they have really struggled in and need to put something strong there. I don’t know what but it has to be bold.

    In saying this though i still think TEN will really struggle in 2013. They have already rushed Homeland back via fast-tracking so have lost the one big new hit they had. Secondly if they continue on the path of launching 2 weeks prior to the ratings season they are idiots to do so not to mention looking at TEN’s show list for 2013 it actually looks weaker than they had this year. TEN have a tonne of work to do if they are to at least be somewhat competitive in 2013.

  21. Batterstyle December 6, 2012 at 12:48 pm -

    It is no surprise, and I’m not sure Ch 10 management get it, they have lost the 16-39 demo to smart phones and tablets. 7 & 9 should be planning their defence right now also.
    The last itme 10 had to re-invent it’s self 20 years ago there was no internet. It will be much much harder now. James Warburton must be kicking himself every day.

  22. MuchoTB December 6, 2012 at 12:40 pm -

    Elementary is actually a fantastic show, if Ten advertise it well it could become a hit for them.

    If they stick to their word and actually keep shows in consistent slots and have some original shows that aren’t trashy rubbish like The Shire and Don’t Tell The Bride, they should do bette than they’re doing now

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