The Nine Entertainment Co. Holdings Ltd (ASX: NEC) share price is in focus today as the company announced strong Q3 revenue growth and completed the acquisition of QMS Media, marking continued progress on its digital-first strategy.
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What did Nine Entertainment report?
- Q3 FY26 Group revenue grew in the low single digits for Total Television, with audiences up 8% (Total People) and 10% (age 25–54) year-on-year.
- QMS Media's Q3 revenue rose approximately 15% on the prior year, supported by key contract wins in Sydney and Auckland.
- Nine Publishing digital subscription revenue increased 15% in Q3, extending double-digit momentum into Q4.
- Stan achieved further strong EBITDA growth in the second half, sustaining positive momentum from H1.
- On a continuing basis, Total Television costs in FY26 are expected to fall by mid- to high single digits compared to FY25.
- The sale of Nine Radio completed on 30 April 2026; NBN and Nine Darwin restructures are expected by 30 June, pending approvals.
What else do investors need to know?
Nine's strategic repositioning is gathering pace, with M&A activity expanding its digital and outdoor media footprint. The integration of QMS Media is expected to bring high-margin growth and diversify Nine's revenue base, particularly through contract wins in metro areas.
Advertising market conditions remain challenging, especially moving into Q4, influenced by broader economic uncertainty and the absence of last year's Federal election boost. However, Nine remains on track with cost discipline, targeting notable reductions in Total Television expenses despite inflation and continued investment in content and technology.
Nine Publishing is progressing with new commercial models, including licensing content for corporate AI applications. The company is also preparing for regulatory changes affecting digital content deals like the upcoming Government News Bargaining Incentive.
What did Nine Entertainment management say?
Chief Executive Officer Matt Stanton said:
Nine is successfully executing a strategic pivot toward a high-growth, digital-first portfolio, punctuated by the QMS Media acquisition and the sale of Nine Radio. While the broader advertising market faces a 'short' and uncertain Q4, core operational performance remains resilient. Total Television continues to deliver market-leading audience growth in key demographics, Stan is sustaining its strong EBITDA growth trajectory and Publishing is recording further double-digit digital subscription revenue gains alongside emerging AI licensing opportunities. By continuing to manage the cost base — now expecting FY26 Total TV costs to decline in the mid-to-high single digits — and integrating the high-margin revenue from QMS, Nine is balancing disciplined capital management with a clear strategy to drive long-term shareholder value through premium content and unique data.
What's next for Nine Entertainment?
Nine will focus on fully integrating QMS Media and maximising the benefits of its enhanced digital, streaming, and outdoor media offerings. Management is optimistic about growing high-margin digital revenues and pursuing adjacent opportunities, including retail media and AI-powered content deals.
With its restructured portfolio leaning into growth engines like subscription streaming and premium digital publishing, Nine aims to deliver ongoing cost efficiencies and expand its cross-platform content reach. The outcome of regulatory processes and shareholder approvals in Q4 FY26 will also shape near-term strategic priorities.
Nine Entertainment share price snapshot
Over the past 12 months, Nine Entertainment shares have declined 36%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the same period.
