Seven West Media says the advertising market has improved but is still volatile, according to a trading update to the company's AGM.
Since August, Seven has concentrated on content, on delivering despite the impact of COVID and putting a strong schedule in place for 2021.
"The market has improved since the August results but remains short and volatile," says CEO James Warburton
"Competitive content drives revenue. So far in FY21 we've seen strong revenue share performance when we've delivered engaging content.
"The holes in our schedule are fixed for 2021. When content works share follows, with each share point worth $22m per annum."
The Metro FTA market was down 5% from July to October compared to the same period last year. Over the same period, the BVOD market grew 37%, with 7plus capturing share and growing 62%.
The company hasn't released an earnings guide.
In August, the media group posted a full year statutory loss of $162 million with revenue down 14% to $1.23 billion. Net profit after tax for continuing operations and excluding significant items was $40.8 million, down 66.1%.
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