Seven West Media Limitedhas reported a group revenue of $775 million, marking a 5% decline from the previous corresponding period. Earnings before interest, tax, depreciation, and amortisation (EBITDA) were $124 million, down 40% from the previous corresponding period ($205m). The company's statutory net profit after tax was $54 million, while underlying net profit after tax (excluding significant items) of $63 million represented a 49% decline from the previous corresponding period ($123m).

Despite the financial downturn, SWM's Managing Director and Chief Executive Officer, James Warburton, said he remains optimistic about the company's audience growth. "SWM successfully executed on our strategy during the period to deliver consistent and engaging content to drive audience growth and revenue share across the total TV market. Despite this progress and our disciplined management of costs, our financial performance reflects the weakness in advertising markets, particularly as the second quarter progressed," Warburton said.

Warburton also highlighted the company's belief in the power of television and its potential to regain market share. He said that total TV is growing, and Seven is leading that growth, with a linear increase of 2.2% and a 35% increase in minutes on 7plus. He attributed this growth to key tentpole programs such as SAS Australia, Farmer Wants A Wife, Dancing With The Stars, and My Kitchen Rules, as well as major sports events.

The company's BVOD audience growth has been driven by both live and library content, with the FIFA Women's World Cup 2023 delivering extraordinary numbers on 7plus and tentpole programs seeing a 36% increase in live minutes watched year-on-year. News has also seen good growth, with an 18% increase in live viewership on 7plus year-on-year. NBCUniversal content now accounts for 16% of total BVOD minutes and is attracting new younger female audiences.