Nine Entertainment Co. (NEC) Investor presentation summary

Revenue composition and business diversification

• Digital revenues comprise 95% in Australia and over 70% in New Zealand, with significant contributions from digital outdoor, publishing, and streaming segments.

• Outdoor advertising, publishing, streaming, and broadcast represent 14%, 31%, 21%, and 34% of pro forma FY26 revenue, respectively.

• Over 60% of publishing revenue is digital, with about half from subscriptions and licensing.

• Streaming generates more than 70% of its revenue from subscriptions.

• Recent M&A activity has increased scale, diversification, and focus on structural growth businesses.

Growth engines and strategic initiatives

• Three main growth engines—streaming, outdoor, and digital publishing—are expected to account for about 70% of Group EBITDA by FY27.

• Streaming growth is driven by content alignment, expanded digital video advertising, and off-platform opportunities.

• Outdoor growth focuses on yield, digitisation, new contracts, and leveraging QMS's operating momentum.

• Digital publishing is outpacing print decline, with new licensing opportunities and a relaunch of nine.com.au.

• Q3 saw 14–15% year-on-year growth in subscriptions and revenues.

Outdoor advertising and QMS performance

• Outdoor market has grown at 9% per annum from 2014–2025, with continued growth expected.

• QMS increased its Australian market share from 8% to 15% between 2019 and 2025, with a 15% revenue CAGR and 26% operating margin in 2025.

• 95% of QMS's Australian revenue and over 70% of NZ revenue are digital.

• Premium portfolio includes long-term metro leases in Sydney and Auckland.

• Synergies with broader media assets enable cross-screen targeting and campaign alignment.