Nine has restructured its Powered division promoting Lizzie Young into an expanded role and hiring Melissa Mullins from IPG Mediabrands.
Melissa Mullins is joining from Initiative to work alongside Young in the role of strategy director. At Initiative she was national strategy director. There is no word on who will replace her at the agency.
Young has been promoted into an expanded role which incorporates Matt James' former responsibilities. She is now director of innovation, partnerships and experience.
James was appointed as the CEO of Zenith at the tail end of 2015.
Yesterday, Nine reported an 11% year on year drop in revenue for the third quarter and updated its guidance on ad market growth to “low single digit decline for FY16”. It had previously outlined a ad revenue would be “flat to down marginally’.
It also said it expects its share of the FTA TV market to be 37% for the year
The drop prompted a 23.6% stock market slide. On Monday Nine's shared sat at $1.52. Shares are now sitting at $1.16.
Michael Stephensen told AdNews that despite the ratings struggles of some of its tent pole shows including Farmer Wants a Wife and Reno Rumble, recently launched lifestyle channel 9Life “is the success story of this year so far”.
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