AUCKLAND, Today: TVNZ has reported a $2.4m NPAT for the six months to 31 December 2025, as the broadcaster continues pushing ahead with its Digital+ 2030 strategy and navigating a challenging advertising market.
Total revenue reached $134m, down 12% on the same period last year as global tech platforms continue to disrupt advertising. Cost discipline and premium digital ad investment helped offset the decline, with underlying costs improving 10.8%.
The result also includes a net positive non-cash benefit of $0.6m tied to FY25 and HY26 impairments.
Combined with strong cash reserves, the result enables TVNZ to pay a $1.6m dividend to the Crown, following a $3.1m dividend paid in FY25.
TVNZ Chief Executive Officer, Jodi O’Donnell says the performance reflects resilience during a difficult advertising cycle.
“We’ve stayed focused on delivering exceptional content that connects with audiences – from New Zealand’s most watched programme, 1News at Six, to heritage favourite Country Calendar, special format, You, Me & The Economy, new local entertainment The Chase NZ, and must-watch sport like BLACKCAPS and White Ferns cricket.
TVNZ+
Five of the top 10 streaming shows were local, with 1News at Six retaining its number one spot.
At a time when disinformation and AI deepfakes are eroding trust on social media, we take real pride in providing Kiwi families with a viewing experience they can trust and rely on.”
Digital continues to power growth, now contributing more than 30% of TVNZ’s total advertising revenue as the broadcaster builds out its Digital+ strategy.
Revenue from the Activate™ product suite topped $8m between July and December, up 19.8% year-on-year. The platform uses TVNZ’s first-party data and audience insights to deliver precise audience targeting across TVNZ+.
TVNZ also expanded its digital capability in October 2025, launching New Zealand’s first co-viewing measurement tool. With more than 70% of TVNZ+ viewing happening on connected TVs, the tool captures shared household viewing beyond individual logins.
O’Donnell says combining deeper audience data with precise targeting gives advertisers a powerful new proposition.
“We can now tell the difference between someone streaming alone and a household watching together, which means we see the true scale of our digital audience.” – Jodi O’Donnell, TVNZ Chief Executive Officer
“We can now tell the difference between someone streaming alone and a household watching together, which means we see the true scale of our digital audience.
“Layer on our Activate products – which let advertisers target audiences as specific as dog owners in Grey Lynn or SUV shoppers in Christchurch – and the result is a powerful advertising platform for Kiwi businesses.”
Looking ahead, TVNZ will launch Total TV in 2026, giving advertisers the ability to book campaigns across both linear TV and streaming through a single self-serve portal.
Major Digital+ projects are now moving into delivery, giving the business clearer visibility over its investment programme and positioning TVNZ for a stronger second half.
Upcoming highlights include the launch of a new TVNZ+ platform and coverage of FIFA World Cup 2026™, both expected to drive audience engagement and commercial opportunities.
The new TVNZ+ will introduce an improved user experience alongside pay functionality, opening the door for more premium content offerings.
O’Donnell says the coming year marks an important turning point for the broadcaster. “2026 will be a defining year for TVNZ. We’re investing now to ensure TVNZ is the place New Zealanders choose first for the news, entertainment and sport they love.
“That comes with planned short-term costs, but we’re confident in the long-term value these changes will create for New Zealand audiences and advertisers.”
Broadcast TV
All ten of the top 10 broadcast shows across networks were local and all appeared on TVNZ 1.
Share this Post
