Southern Cross Media (ASX:SXL) has released the first-half FY26 financial results for Seven West Media, marking a significant update following its acquisition of the network on Jan. 7.
The results, which cover the six months ended Dec. 31, 2025, largely align with the guidance provided during the November 2025 AGM, despite a "challenging and volatile" advertising landscape.
Seven reported an EBITDA of $67 million, representing a 27% decline compared to the previous corresponding period.
Total revenue reached $712 million, down 2.1%, slightly trailing the initial 1% decline guidance.
The shortfall was attributed to a broader market contraction; notably, the total TV advertising market slumped 10.1% during the half.
Despite this, Seven managed to outperform the market, securing a record 44.1% revenue share and growing its total audience by 3.4%.
A primary bright spot in the report is the aggressive growth of Seven's digital platform, 7plus.
Driven by premium content, the streamer saw a 15% increase in revenue, underpinned by a 26% jump in daily active users and a massive 62% surge in streaming minutes.
The company successfully reduced its net debt by $10 million to $277 million, maintaining a leverage ratio of 2.1x.