‘United in changing culture’: Nine address concerns in AGM

Nine Entertainment’s board faces mounting pressure over the company’s toxic internal culture and gambling concerns.

Nine’s board faced a grilling from shareholders about its culture review, harm through gambling and falling advertising revenue during its largest annual general meeting.

Facing shareholders for the first time since the release of an internal report about conduct behaviour, Nine’s board started on the front foot, addressing cultural issues.

Investigations are under way into individual complaints made by Nine Entertainment staff, while others have engaged lawyers after an independent report found a toxic culture at the media company subjected them to sexual harassment and bullying.

“Given the important role we play within the community, we must continually strive to create an environment that is underpinned by integrity. We want to ensure our workplace is built on a culture of respect, safety and inclusion to allow our people to prosper,” Nine chair Catherine West said.

“As an organisation, we must also be prepared to address challenging issues and that is why,

during the year, the board unanimously supported the establishment of an independent review

of Nine’s workplace. The review was conducted by organisational culture experts Intersection.”

Nine’s board faced questions about the company’s cultural issues. Picture: AAP Image/Ellen Smith

The report found those in a position of power at Nine’s broadcast division would belittle, intimidate, gaslight and sexually harass employees, and when complaints were made against management, HR would not help these employees.

The review findings were based on 934 staff survey responses as well as 122 face-to-face interviews and written submissions.

“As a board and management team we are completely united in changing behaviours so all our people have a safe place to work,” Ms West said.

Gambling harm

Shareholders took Nine to task about gambling ads, saying the constant reminders put further pressure on reformed gamblers who just wanted to watch sport.

Shareholders said 72 per cent of Australians wanted a total ban on gambling ads, but Nine has been lobbying against the ban.

“They want their kids to stop being groomed by gambling during sport,” a shareholder said.

“We are very conscious of our responsibility to the community,” Ms West said.

She said the main purpose of gambling ads was to pay for sports that were increasingly expensive to televise. She said instead of banning gambling ads outright, there should be fair rules across the board.

Investors also questioned Nine on its gambling harm.

“Our position to the government is to reduce the number of gambling ads we are able to show, but we should be treated fairly if there’s restriction on our advertising. If it is banned on our platform, it should extend across social media companies and Google, so we are arguing for fairness,” Ms West said.

Prior to the AGM, protesters from the Alliance for Gambling Reform said the network should do more to prevent gambling addictions.

“The evidence shows that every gambling ad is dangerous in luring people, especially children, into gambling. We banned tobacco advertising decades ago, we must ban gambling advertising today,” chief advocate Tim Costello said.

Market performance

Nine has expanded audiences across its platforms. The business said live audiences for free-to-air and streaming services grew after years of audience fragmentation.

It notes Stan surpassed two million customers, which was largely driven by the Paris Olympics and Paralympics.

The company reported FY24 revenues of $2.6bn, with an EBITDA of $517m, down 12 per cent from FY23 due to a weak television advertising market.

Net profit after tax stood at $190m, reflecting the pressures within the sector.

Originally published as ‘United in changing culture’: Nine address concerns in AGM