The Paramount-owned broadcaster has accused the investment bank of bias after its analysts noted poor ratings were supporting its rivals Nine and Seven.
Every percentage point of the free-to-air television audience is worth an extra $34 million in revenue for Nine Entertainment, Mr McLeod wrote, adding the company was on track to reach 39 per cent of the market this financial year. Nine is the publisher ofNetwork Ten’s The Bachelors underperformed compared to shows on Nine and Seven.
“The report by Morgan Stanley, which was published on March 14, 2023 is littered with factually incorrect information and bias with some aspects based on unsupportable assumptions,” a spokeswoman said. Ten’s share of the advertising market has dropped from about 30 per cent in 2007 to 23.8 per cent in 2022.The note gave three main reasons why Ten’s audience – traditionally younger than its two major rivals – has shifted from the network.
There have also been several changes in ownership and strategy. Over the past decade, the network has, been rescued, and been re-branded multiple times. This “may also have contributed to its underperformance”, Mr McLeod noted.
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