August 29, 2025 • 4 mins
There are questions over whether TVNZ cut too many jobs as it turns a surprisingly strong profit.
The broadcaster's reported an after-tax profit of nearly $26million dollars - after an $85million dollar loss last year.
But it comes after the broadcaster cut jobs - including canning production of programmes like Fair Go, Sunday and the midday and night-time news bulletins.
Talking to Heather Du-Plessis Allan, CEO Jodi O'Donnell denied that the cuts were excessive.
She says the company had to make decisions to ensure the business remained sustainable into the future.
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Speaker 1 (00:09):
You're listening to a podcast from news Talk zed B.
Follow this and our wide range of podcasts now on iHeartRadio.
Speaker 2 (00:16):
TV and Z has announced a surprise dividend to be
paid to the government of three million dollars. The broadcaster
has delivered a twenty five million dollar after tax profit,
which is a huge turnaround after last year's eighty five
million dollar loss. Jody O'Donnell is the CEO of TV
and Z. Hey, Jody, Hi, he how are you?
Speaker 1 (00:33):
Oh? Well?
Speaker 2 (00:33):
Thank you? How wrong was I? Though? Just a couple
of days ago I was saying that's the end of
the dividends from TV and Z and here you go.
How'd you do it? Well?
Speaker 3 (00:39):
Look, I think that like many businesses last year, we
all had to make really hard decisions. But wasn't just
around us actually resetting our cost base. We actually really
ruthlessly focused around revenue initiatives as well, so we were
able to do it at the same time, and our
revenue was stronger than we had predicted.
Speaker 2 (00:58):
Do you think it's the last one, though, the last dividend? Yeah,
for a while.
Speaker 3 (01:02):
Look, it's our obligation to pay a dividend, and we've
actually paid eight dividends over the last ten years. So
it's a process that we go through every year and time.
Speaker 2 (01:11):
If you're going to have a couple of losses a
lead straight, you're not going to be paying a dividend,
are you.
Speaker 1 (01:14):
Well?
Speaker 3 (01:14):
Again, it's a process that would have to go through
every year. So I'm not going to stay upfront whether
it's in or it's out.
Speaker 2 (01:19):
Yeah, would you pay one in a loss?
Speaker 3 (01:22):
Again, it would have to be a conversation that we
have with our board at the time.
Speaker 2 (01:25):
Okay, so it's a possibility, given that you did turn
around a profit here, did you cut too hard when
you cut?
Speaker 3 (01:33):
I knew you'd ask me that question. Look like I said,
we had to make the decisions that we had in
front of us at the time, and so what was
really important is that we set the cost base of
the business into a stable position that we could see
at least for the next three or four years. And
that was really important for us as we started our
investment program. So over the next two years in particular,
we're self funding an investment program, and that's really important
(01:54):
for us to ensure that we can transform. Tving said,
the first thing that all of our viewers will see
will be a brand new tving z plus platform next
year that obviously allows us to have enhanced user experiences,
but also allows us to unlock the capability which you
would have heard us announced earlier this week with in
conjunction with a fef for World Cup rights.
Speaker 2 (02:13):
When's the FIFA World Cup again?
Speaker 3 (02:15):
It's middle June next year.
Speaker 2 (02:16):
Okay, So does that is that the start of you
guys charging us for things? I mean, it's obviously the
first case of it, but how soon after that does
that become the regular thing.
Speaker 3 (02:24):
Well, look, it's the first thing that we've identified that's
really important, and we know we'll be big for audiences.
So as a free to we broadcaster, there's always rights
that have been outside of our reach. So for us
to unlock that pay capability, we want to test and
learn how do the super fans want to watch all
one hundred and four matches and then how do we
balance that as well with the free to wear audience exposure.
(02:44):
So we've said the all whites will all be free
on tvings one, so it'll be huge learning opportunity for us.
Speaker 2 (02:51):
Do you think are you guys looking at just charging
punters for the big events or do you think you're
going to charge us for the regular stuff that we
like to watch, like Bluey?
Speaker 3 (03:01):
Fifty million streams of Bluey in the Last World, how
many of them were your household?
Speaker 2 (03:06):
I keep telling you put Bluey behind the pay will
your mint?
Speaker 3 (03:09):
Look, we are thinking about it in event space at
the moment. So what we want to be able to
do is you know, TVNZ is free at its core,
and that will continue. We're an ad funded business and
we will be free. But certainly once we test this
event pass with FIFA World Cup, we'll look for other
opportunities as well. It's really around what the audience audiences want,
but also with that pay capability, it means we can
(03:31):
compete for rights that we haven't been able.
Speaker 2 (03:32):
To do in that house. I spoke to you about
the netball, Yeah, really happy.
Speaker 3 (03:35):
You're just really happy to make it accessible for all
New Zealanders And I think.
Speaker 2 (03:39):
I mean, are you actually paying anything or are you
just the lucky recipient of the netball.
Speaker 3 (03:44):
That's obviously a commercial sensitivity, so I won't be able
to answer that, but certainly we've had the netball for
the last two years. We've had a free game a
week and so we can see the audience growth there
and how much the audiences love it, and it's really
important for us that we can obviously showcase that well.
Speaker 2 (03:59):
It's got to be a point at which when as
you get more we're coming to watch the fever, then
we're coming to watch the netball, then we're coming to
watch the MPC, and we're watching all this stuff. At
some point you will have a credit where you can
start checking a lot more stuff behind the pay well right,
because we'll get used to the platform.
Speaker 1 (04:13):
Yeah.
Speaker 3 (04:13):
Again, we are at our heart free toware and so
that's a really important part of our DNA. But with
this capability, it means that we can compete.
Speaker 2 (04:21):
You need to make money, Jody.
Speaker 3 (04:22):
We do need to make money, No, absolutely we do,
and we will always make the decisions based on that basis.
Speaker 2 (04:28):
Speaking of which, how much is are in Z paying
you to be in the building.
Speaker 3 (04:31):
Again, that's a commercial negotiation, but we're looking forward to
them when they do move on.
Speaker 2 (04:38):
Thank you, Jody. It's worth try. Jody o'donald TV and z' CEO.
Speaker 1 (04:42):
For more from News Talk zed B listen live on
air or online and keep our shows with you wherever
you go. With our podcasts on IR radio.
You're listening to a podcast from news Talk zed B.
Follow this and our wide range of podcasts now on iHeartRadio.
Speaker 2 (00:16):
TV and Z has announced a surprise dividend to be
paid to the government of three million dollars. The broadcaster
has delivered a twenty five million dollar after tax profit,
which is a huge turnaround after last year's eighty five
million dollar loss. Jody O'Donnell is the CEO of TV
and Z. Hey, Jody, Hi, he how are you?
Speaker 1 (00:33):
Oh? Well?
Speaker 2 (00:33):
Thank you? How wrong was I? Though? Just a couple
of days ago I was saying that's the end of
the dividends from TV and Z and here you go.
How'd you do it? Well?
Speaker 3 (00:39):
Look, I think that like many businesses last year, we
all had to make really hard decisions. But wasn't just
around us actually resetting our cost base. We actually really
ruthlessly focused around revenue initiatives as well, so we were
able to do it at the same time, and our
revenue was stronger than we had predicted.
Speaker 2 (00:58):
Do you think it's the last one, though, the last dividend? Yeah,
for a while.
Speaker 3 (01:02):
Look, it's our obligation to pay a dividend, and we've
actually paid eight dividends over the last ten years. So
it's a process that we go through every year and time.
Speaker 2 (01:11):
If you're going to have a couple of losses a
lead straight, you're not going to be paying a dividend,
are you.
Speaker 1 (01:14):
Well?
Speaker 3 (01:14):
Again, it's a process that would have to go through
every year. So I'm not going to stay upfront whether
it's in or it's out.
Speaker 2 (01:19):
Yeah, would you pay one in a loss?
Speaker 3 (01:22):
Again, it would have to be a conversation that we
have with our board at the time.
Speaker 2 (01:25):
Okay, so it's a possibility, given that you did turn
around a profit here, did you cut too hard when
you cut?
Speaker 3 (01:33):
I knew you'd ask me that question. Look like I said,
we had to make the decisions that we had in
front of us at the time, and so what was
really important is that we set the cost base of
the business into a stable position that we could see
at least for the next three or four years. And
that was really important for us as we started our
investment program. So over the next two years in particular,
we're self funding an investment program, and that's really important
(01:54):
for us to ensure that we can transform. Tving said,
the first thing that all of our viewers will see
will be a brand new tving z plus platform next
year that obviously allows us to have enhanced user experiences,
but also allows us to unlock the capability which you
would have heard us announced earlier this week with in
conjunction with a fef for World Cup rights.
Speaker 2 (02:13):
When's the FIFA World Cup again?
Speaker 3 (02:15):
It's middle June next year.
Speaker 2 (02:16):
Okay, So does that is that the start of you
guys charging us for things? I mean, it's obviously the
first case of it, but how soon after that does
that become the regular thing.
Speaker 3 (02:24):
Well, look, it's the first thing that we've identified that's
really important, and we know we'll be big for audiences.
So as a free to we broadcaster, there's always rights
that have been outside of our reach. So for us
to unlock that pay capability, we want to test and
learn how do the super fans want to watch all
one hundred and four matches and then how do we
balance that as well with the free to wear audience exposure.
(02:44):
So we've said the all whites will all be free
on tvings one, so it'll be huge learning opportunity for us.
Speaker 2 (02:51):
Do you think are you guys looking at just charging
punters for the big events or do you think you're
going to charge us for the regular stuff that we
like to watch, like Bluey?
Speaker 3 (03:01):
Fifty million streams of Bluey in the Last World, how
many of them were your household?
Speaker 2 (03:06):
I keep telling you put Bluey behind the pay will
your mint?
Speaker 3 (03:09):
Look, we are thinking about it in event space at
the moment. So what we want to be able to
do is you know, TVNZ is free at its core,
and that will continue. We're an ad funded business and
we will be free. But certainly once we test this
event pass with FIFA World Cup, we'll look for other
opportunities as well. It's really around what the audience audiences want,
but also with that pay capability, it means we can
(03:31):
compete for rights that we haven't been able.
Speaker 2 (03:32):
To do in that house. I spoke to you about
the netball, Yeah, really happy.
Speaker 3 (03:35):
You're just really happy to make it accessible for all
New Zealanders And I think.
Speaker 2 (03:39):
I mean, are you actually paying anything or are you
just the lucky recipient of the netball.
Speaker 3 (03:44):
That's obviously a commercial sensitivity, so I won't be able
to answer that, but certainly we've had the netball for
the last two years. We've had a free game a
week and so we can see the audience growth there
and how much the audiences love it, and it's really
important for us that we can obviously showcase that well.
Speaker 2 (03:59):
It's got to be a point at which when as
you get more we're coming to watch the fever, then
we're coming to watch the netball, then we're coming to
watch the MPC, and we're watching all this stuff. At
some point you will have a credit where you can
start checking a lot more stuff behind the pay well right,
because we'll get used to the platform.
Speaker 1 (04:13):
Yeah.
Speaker 3 (04:13):
Again, we are at our heart free toware and so
that's a really important part of our DNA. But with
this capability, it means that we can compete.
Speaker 2 (04:21):
You need to make money, Jody.
Speaker 3 (04:22):
We do need to make money, No, absolutely we do,
and we will always make the decisions based on that basis.
Speaker 2 (04:28):
Speaking of which, how much is are in Z paying
you to be in the building.
Speaker 3 (04:31):
Again, that's a commercial negotiation, but we're looking forward to
them when they do move on.
Speaker 2 (04:38):
Thank you, Jody. It's worth try. Jody o'donald TV and z' CEO.
Speaker 1 (04:42):
For more from News Talk zed B listen live on
air or online and keep our shows with you wherever
you go. With our podcasts on IR radio.
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