Warner Bros Discovery rocked the media industry in late February, when it announced that its news service Newshub is set to close as part of a proposed restructure of its free-to-air business in Aotearoa. The 6pm Newshub bulletin has been a nightly staple of New Zealand television for more than 30 years, since it began as Three News back in 1989.
Days after the Newshub announcement, TVNZ dropped a bomb of its own. After reporting a net loss of $16.7 million for the six months to December 31, 2023, the broadcaster revealed plans to axe iconic consumer affairs show Fair Go and investigative current affairs show Sunday, along with the Midday and Tonight news bulletins.
The core challenge faced by mainstream media companies is falling revenue from their traditional channels, with digital revenue rising but not quickly enough to compensate. Yet if you think now’s a good time to negotiate some hard bargains with desperate media providers, think again.
On supporting media
Managing Partner of media agency Together, Rufus Chuter, says advertisers should be supporting local media. “As agencies, we have a responsibility to develop the most effective plans for advertisers’ businesses, while also highlighting those plans’ wider environmental or societal impact. My view is that healthy brands build healthy businesses, and healthy brands need healthy, trusted local media contexts to grow in. This is proven, so although there may be some that perceive a short-term opportunity in a struggling local media market, mid-to long-term, it’ll be very
