Nine Entertainment is restructuring its trade marketing, the unit looking after B2B, AdNews can reveal.
As part of the changes, Jamie Gilbert-Smith, the director of trade marketing, is leaving the company.
Recently appointed chief sales officer Matt James announced the change in a memo.
“As part of our ongoing efforts to align our business needs, we have made the tough decision to restructure the trade marketing team,” he said.
Gilbert-Smith joined Nine in 2022 from creative content agency Hogarth. He was previously managing director at M&C Saatchi’s Sport & Entertainment.
Matt James, when confirmed in his role last month, said the company had spent the last several months re-arming and re-organising to be able to execute an advanced digital strategy across TV, Publishing and Audio.
“We are now at a pivotal point where Nine is ready to be a leader in the digital video market,” he said.
“With clients and brands at the centre of everything we do, our move to accelerate our VOD strategy and to drive a new era of collaboration within the TV industry, will ensure Nine positions itself as a market leader.”
Nine is cutting overheads and expects "cost efficiencies" to the end of the 2027 financial year of more than $100 million, of which $10 million to $20 million is expected to be realised this financial year, on top of the previous guidance of $50 million.
The media group reported a slide in profit in a challenging advertising market with revenue up just 1% in the six months to December. Revenue was $1.39 billion for the half year, while net profit after tax fell 25% to $112.2 million.
The company last week reported total TV advertising revenue increased by almost 8% in the March quarter.
However, the current economic and market uncertainty is impacting the outlook for the balance of this financial year.
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