In an interview with Media Insider, TVNZ chief executive Jodi O’Donnell revealed that the Football World Cup generated double the number of subscribers that the broadcaster had been expecting under its new pay-TV capability.
“… which is a fantastic result. It really does give us confidence around securing major sporting rights in the future …
“[We have proven] the model can work when you’ve got a really strong free-to-air channel as we do with TVNZ 1, and you’ve got the technical capability to have content behind a paywall.
“The value of both of those things being advertiser-funded and subscriber-funded means that we can actually now compete for global sports rights.”
O’Donnell’s comments came as Sky TV announced its own financial results – and the extension of English Premier League football rights to 2034.
O’Donnell confirmed TVNZ would be pursuing global sports rights and was also considering pay-entertainment options.
“We’ll definitely look at all options, I think. Sport was the first option that we looked at for the pay-per-view. Now we’ve got some really good learnings, we’re going to go and look at other options that we can do to unlock, again, content that New Zealanders might not have had access to before and different ways that we can obviously surface that content for New Zealanders.”
TVNZ dividend
After earlier signalling that it was unlikely to deliver dividends to its Crown shareholder in the short-term, TVNZ announced a year-end dividend of $2.2m, bringing total dividends for the 2025/26 financial year to $3.8m.
The broadcaster said the dividend reflected its strengthened position and greater certainty around the timing of its digital investment programme.
TVNZ confirmed an earlier-signalled operational earnings loss of $23.5m, with $27.6m of “planned strategic investment” in products, platforms and capability.
That included an upgrade of the TVNZ+ platform, and new technology that now allows TVNZ to offer subscription television and pay-per-view events.
TVNZ chief executive Jodi O’Donnell. Photo / Sylvie Whinray
“This was a year of real progress for TVNZ,” said O’Donnell. “We made deliberate choices about where to invest, launched new products for viewers, and kept focused on the fundamentals.
“There’s more to do, but we’re clear on where we’re heading and confident in the path we’re taking.”
Overall advertising revenue fell $22.2m – from 266.4m in 2025 to 244.2m in 2026. TVNZ said it had been a challenging first half.
Digital revenue grew 16.8% year-on-year, although TVNZ has not yet provided specific numbers.
“Cost discipline remained a priority, with TVNZ managing day-to-day costs carefully while investing in the areas that matter most to audiences, advertisers and the future of the business,” the broadcaster said in a statement.
Football World Cup and the importance of sport
TVNZ won the rights to this year’s Football World Cup and said the tournament had reached more than a third of New Zealanders across TVNZ 1 and TVNZ+.
“The sports line-up was further bolstered by UFC, the Super Bowl, the Milano Cortina 2026 Paralympics, cricket, football, netball and fresh sportainment formats including T20 Black Clash, Chasing the Fox and Track Stars,” the broadcaster said.
“Rights were also secured for the NPC, FPC, with the provincial rugby competitions returning free-to-air for the first time in 30 years and the America’s Cup back with TVNZ for its 38th iteration.”
1 News at 6 host Melissa Stokes. Photo / Michael Craig
It said 1 News at Six was once again “the most watched programme on air and online”.
“The year brought fresh energy to news and current affairs, with Melissa Stokes and Jack Tame stepping into new 1 News at Six presenting roles…”
Tova O’Brien had also joined Breakfast and TVNZ had launched Business Breakfast hosted by Mei Heron.
More operational losses ahead
TVNZ said it expected to report a loss in 2026/27 as it completed its two-year investment programme, before returning to profitability in FY28.
“New Zealanders are changing how they watch content, and TVNZ is changing with them,” said O’Donnell.
“FY27 will be another important year of delivery. We are clear on the investment required and confident the choices we’re making now will position TVNZ for a stronger and more sustainable future.”
Editor-at-Large Shayne Currie is one of New Zealand’s most experienced senior journalists and media leaders. He has held executive and senior editorial roles at NZME including Managing Editor, NZ Herald Editor and Herald on Sunday Editor and has a small shareholding in NZME.