Network 10 facing 'serious turmoil' as experts claim industry is in 'death ... trends now
Network 10 is reportedly in 'serious turmoil' with industry experts claiming it can't last as one of Australia's three big commercial broadcasters.
The future of the embattled network owned by Paramount Global is uncertain as it continues to bleed television shows, amid sliding ratings and an ad revenue crisis, reports news.com.au.
On Tuesday, on-air talent Dave Hughes and Osher Günsberg publicly confirmed two of Channel Ten's biggest reality TV shows, The Masked Singer and The Bachelor, have been axed from the network, who is in possible merger talks.
Media analyst and Pearman director of strategy and research Steve Allen said: 'A new owner of Paramount Global is unlikely to see Ten as an asset worth retaining because the business is in serious turmoil.
'There's no programming momentum and they haven't found a really solid anchor for prime time, their revenue looks steady but they can't seem to significantly reduce overheads, and now there's upheaval in terms of their US ownership.'
Network 10 is reportedly in 'serious turmoil' with industry experts claiming it can't last as one of Australia's three big commercial broadcasters. Pictured: The Project host Waleed Aly
The future of the embattled network owned by Paramount Global is uncertain as it continues to bleed television shows, amid sliding ratings and an ad revenue crisis , reports news.com.au . Pictured: I'm A Celebrity hosts Robert Irwin and Julia Morris
'Network 10 is in a real pickle and I don't see a way out for them,' he finished.
Professors Amanda Lotz and Anna Potter from the Queensland University of Technology both shared their agreement, but added it was as much about the current media landscape as it is funding issues.
Lotz, who leads the Transforming Media Industries research program, said she believes Ten will drown 'by the end of the decade' and leave behind only 'two commercial broadcasters' - rivals Nine and Seven.
She added that 'it's just math' and claimed the commercial television industry is in a 'death spiral' which could see only one network survive by the end.
Meanwhile, Potter, an expert in digital media and cultural studies, said it was 'a big question too about whether Australia can support three television [commercial] broadcasters', saying she didn't believe it was possible in this day and age.
On Tuesday, on-air talent Dave Hughes (right) and Osher Günsberg (left) publicly confirmed two of Channel Ten 's biggest reality TV shows, The Masked Singer and The Bachelor , have been axed from the network, who is in possible merger talks
Ten's parent company, entertainment giant Paramount Global, was reportedly ready to fire CEO Bob Bakish just last week, days before a possible merger with Skydance could be finalised.
Paramount reported its quarterly earnings last Monday and Bakish, 60, who's been the chief executive since 2019, was said to not be on that call, CNBC reported.
The company recently cut 800 jobs a day after its very own CBS hosted this year's Super Bowl in America, which had record ratings.
Paramount also lost (USD)$490 million from the streaming sector of its business in the last quarter of 2023, despite its flagship service Paramount+ adding 4.1 million subscribers over that same period.
The board appears to be looking to Larry Ellison's son David, the CEO and founder of Skydance, to take the company in a new direction.
Network Ten staff were put on notice that job cuts were on the way as their parent media company axed positions worldwide to streamline costs ahead of the potential merger.
Paramount sent an email to all staff in February from chief executive Bakish informing them of upcoming job losses.
The email
