Nine’s profits fall 38% as advertising revenue tumbles but Stan stands out
by Australian Associated Press from World news | The Guardian on (#6E44Y)
Streaming platform provides lift in tough market as media giant eyes opportunities and threats of AI
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Profits at Nine Entertainment have dived 38% amid falling advertising revenue, but the media group hopes legislation can help it take a share in a potential artificial intelligence windfall.
The company on Thursday reported a full-year net profit after tax of $195m, down from a record $315m the year prior.
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