Source: Radio New Zealand
TVNZ’s headquarters in Auckland. RNZ/Calvin Samuel
TVNZ has posted a sharply lower half-year profit as revenue slumped in a tough advertising market, and on a one-off accounting write-down.
The state-owned broadcaster’s profit for the six months ended December 2025 was $2.4 million, compared to $53m a year ago.
Revenue fell 12 percent to $134m, driven by a sharp fall in advertising income, which TVNZ said reflected the broader economic environment.
The company recorded a $28.5m write-down in the value of its assets, largely in programme rights.
TVNZ said it offset the impact of lower revenue by investing in digital advertising and by managing its costs.
It said digital advertising continued to grow, with digital accounting for more than 30 percent of total advertising revenue.
“We can now tell the difference between someone streaming alone and a household watching together, which means we see the true scale of our digital audience,” chief executive Jodi O’Donnell said.
2026 would be “a defining year” for the media company.
“We’re investing now to ensure TVNZ is the place New Zealanders choose first for the news, entertainment and sport they love,” she said.
“That comes with planned short-term costs, but we’re confident in the long-term value these changes will create for New Zealand audiences and advertisers.”
TVNZ expected to deliver a dividend of $1.6m to the Crown, compared to $3.1m in the 2025 financial year.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
