The New Seven
In 2020, Seven Network Limited, one of Australia’s largest television networks, underwent a significant transformation. The company’s leadership team, led by CEO James Warburton, embarked on a bold new strategy to revamp the network’s approach to television sales. This shift was driven by the rapidly changing media landscape, where traditional broadcast models were no longer the dominant force. As a result, Seven’s national TV sales director, Finney, found himself at the forefront of this transformation.
The Challenges of the New Media Landscape
The media landscape has undergone a seismic shift in recent years. The rise of streaming services, social media, and online content has dramatically altered the way people consume television. Traditional broadcast models, which relied on linear programming and advertising revenue, are no longer the primary source of income for networks like Seven. Instead, the industry is shifting towards a more fragmented and dynamic model, where audiences are increasingly fragmented across multiple platforms. Key challenges facing Seven’s TV sales team include: + Advertisers’ increasing demand for targeted and measurable advertising + The need to adapt to changing audience habits and viewing patterns + The rise of new platforms and formats, such as streaming services and social media
The Role of Finney
As Seven’s national TV sales director, Finney has been tasked with leading the company’s efforts to adapt to this new media landscape.
“It’s been a tough year,” she says with a chuckle, “but I’m not one to complain.” Katie Finney is a dedicated and passionate individual who has been a part of the Seven team for over two decades. Her unwavering commitment to her work and her colleagues has earned her a reputation as a trusted and valued member of the team.
Katie’s Journey to Seven
Katie’s journey to Seven began in 2001, when she first started working as a production assistant. At the time, she was just 19 years old and looking for a career in television production.
However, she acknowledged that she was aware of the cultural issues and that she had been warned about them by her predecessor.
The Investigation Begins
The investigation into the allegations of racism and sexism at Seven Network began in July 2019. The investigation was led by a former Australian Federal Police Commissioner, Tony Abbott, who was appointed by the Seven Network’s board of directors. Abbott’s investigation was tasked with examining the allegations of racism and sexism within the network. The investigation was conducted over several months, with multiple interviews and meetings with staff members, executives, and external experts.
The Findings
The investigation’s findings were released in October 2019. The report highlighted several instances of racism and sexism within the network, including:
The Response
The Seven Network’s response to the investigation’s findings was mixed. Some executives acknowledged the issues and expressed a commitment to change, while others downplayed the findings or denied any wrongdoing. The network’s CEO, James Warburton, acknowledged the issues and expressed a commitment to change, but some critics argued that his response was insufficient.
The Impact
The investigation’s findings and the Seven Network’s response had a significant impact on the industry and the wider community.
She was tasked with leading the company’s efforts to expand its presence in the national market. Finney’s experience and skills in the regional market made her the ideal candidate for the position.
The Rise of Finney as a National TV Sales Leader
Finney’s appointment as the national TV sales leader was a strategic move by the company to expand its reach and increase its market share. With her extensive experience in the regional market, Finney was well-equipped to tackle the challenges of the national market. Her ability to build strong relationships with clients and her expertise in sales and marketing made her an ideal candidate for the role.
Key Strengths and Qualifications
Challenges and Opportunities
The Impact of Finney’s Leadership
Under Finney’s leadership, the company has seen significant growth and expansion in the national market.
“It’s not about the number of people watching a particular channel, it’s about the total number of people watching our stations.” In this sense, the broadcast industry has been transformed. The total number of TV sets is huge, but the number of people watching channels is relatively low, Finney said. “There are 100 million households in the UK with 3-4 TVs, and that’s a huge number of potential viewers,” he said.
The Digital Transformation of Seven
A Shift in Revenue Streams
Seven is undergoing a significant shift in its revenue streams, with digital revenues playing an increasingly important role in the network’s overall income. Currently, digital revenues account for approximately 20% of the network’s total revenue. This represents a substantial increase from previous years, as the network continues to adapt to the changing media landscape. The growth of digital revenues is driven by the increasing popularity of online streaming services, such as Netflix and Amazon Prime.
Advertisers are flocking to 7plus for a fresh audience.
The Rise of 7plus: A New Era for Advertisers
The 7plus platform has experienced a significant surge in new audiences over the summer, with a total of 120,000 new registered users joining the platform.
He also claims that 7plus is not cannibalising the ABC’s linear audiences either. He claims that 7plus is attracting new audiences that Seven and ABC do not have. He also claims that 7plus is attracting audiences that are not watching traditional linear TV.
The Rise of 7plus
The Australian television network, Seven Network, has been making waves in the digital landscape with its new streaming service, 7plus.
The Challenges of the Australian Media Landscape
The Australian media landscape is highly competitive, with numerous players vying for attention. Seven Network Limited, as one of the major players, faces unique challenges in this environment. The company’s financial performance has been impacted by the decline in TV advertising revenue, which has been a trend in the industry.
The Olympic Games Effect
The 2020 Summer Olympics in Tokyo brought a significant boost to Nine’s TV revenue, with the network’s total TV revenue share increasing by 1.2 points to 43.7 per cent. This is largely attributed to the extensive coverage of the games, which drew in massive audiences and generated substantial advertising revenue. Key highlights of the Olympics coverage: + 1.4 million viewers tuned in for the opening ceremony + 2.5 million viewers watched the final event + 1.1 million viewers tuned in for the closing ceremony
The Seven Network’s Response
Seven’s increased TV revenue share can be attributed to its own Olympic Games coverage, which was also extensive and well-received by audiences. However, the question remains whether Seven should be measuring its performance against Nine and Ten, or the video market in total. Key points to consider: + Seven’s Olympic Games coverage was watched by 1.2 million viewers + Seven’s total TV revenue share increased by 0.5 points to 41.5 per cent + Seven’s revenue growth was driven by its own programming and advertising efforts, rather than just the Olympics
The Video Market in Total
When considering the video market as a whole, Seven’s increased TV revenue share is more nuanced.
The Rise of Reality TV
Reality TV has experienced a remarkable resurgence in popularity over the past decade, with many shows achieving record-breaking viewership numbers. The success of tent pole shows like Australian Idol, Farmer Wants a Wife, and My Kitchen Rules has led to significant revenue growth for the industry. However, despite the impressive audience numbers, the revenue figures have not kept pace.
The Business of Reality TV
Reality TV shows are typically produced and distributed by major networks, which then sell advertising space to brands. The revenue generated from these ads is usually split between the network and the production company. However, the reality TV market is highly competitive, with many shows vying for attention and ad dollars. Key factors contributing to the revenue disparity include: + Low production costs: Reality TV shows often have lower production costs compared to scripted shows, making them more attractive to advertisers. + Ad revenue fragmentation: With the rise of digital media, ad revenue is increasingly fragmented across multiple platforms, making it harder for reality TV shows to command high ad rates. + Limited brand engagement: Reality TV shows often lack the brand engagement and loyalty that scripted shows can provide, making it harder for advertisers to justify high ad spend.
The Challenges of Measuring Revenue
Measuring revenue in the reality TV industry is complex due to the fragmented nature of the market.
The Rise of Cricket and AFL Digital Rights
In recent years, Seven Network has made significant investments in digital rights for cricket and Australian Football League (AFL) content. The network has been confident in its ability to secure lucrative deals, but the financial performance of these investments has been a mixed bag. While Seven has been successful in attracting a large audience for its digital offerings, the revenue generated from these deals has been slower to materialize. Key highlights of Seven’s digital cricket and AFL partnerships include: + A partnership with the Australian Cricket Board (ACB) to broadcast cricket matches online + A deal with the AFL to stream matches and other content on its digital platform + A growing commercial program featuring cricket and AFL content
The Impact of TV on Digital Rights
Despite the growing commercial program, Seven’s digital rights investments have been impacted by the decline of traditional TV viewing. The network has been forced to adapt to changing viewer habits, with many consumers opting for online streaming services over traditional TV. However, Seven remains confident that TV is the most effective channel for reaching its audience.
The Rise of Cricket in Linear TV
Cricket, a sport that has traditionally been associated with niche audiences, is experiencing a significant shift in its viewership patterns. Gone are the days when cricket was confined to a specific demographic; today, it’s attracting a new wave of younger audiences who are tuning in to linear TV. This phenomenon is not limited to a single country or region; it’s a global trend that’s being observed across various parts of the world.
The Changing Landscape of Cricket Viewership
The traditional cricket fan base has always been dominated by older generations. However, with the advent of digital technologies and social media, the sport has become more accessible and appealing to a younger audience.
“I’m excited to be a part of this team and to be able to contribute to the new year’s goals.”
A New Year, New Opportunities
As the clock strikes midnight on December 31st, Finney looks forward to a fresh start in the new year. With a sense of excitement and anticipation, she reflects on the opportunities that lie ahead. In an exclusive interview, Finney shares her thoughts on the year ahead, her passion for the industry, and her goals for the new year.
Finney’s Vision for the Industry
Finney’s enthusiasm for the industry is evident in her words. She expresses her love for television and her passion for growing brands. With a strong work ethic and a drive to succeed, Finney is well-equipped to make a positive impact on the industry. Key aspects of Finney’s vision: + Growing brands and expanding the industry + Contributing to the new year’s goals + Being a part of a dynamic team
The Importance of Teamwork
Finney emphasizes the importance of teamwork in achieving success.
Summer of Cricket Partners KFC, Toyota and Harvey Norman. Our Sponsors Woolworths, NRMA Insurance, Commonwealth Bank, NBN (New), Lion, Bunnings, Youi, Bundaberg Brewed Drinks, Weber and Anaconda.
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