TVNZ Interim Report FY2008
CONTENTS
CHAIRMAN’S INTRODUCTION...... 3
CHIEF EXECUTIVE’S OVERVIEW...... 4
INTERIM FINANCIAL STATEMENTS...... 8
DIRECT GOVERNMENT FUNDING...... 28
CHARTER PERFORMANCE MEASUREMENT ...... 31
TVNZ BOARD AND MANAGEMENT DIRECTORY...... 37
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CHAIRMAN’S INTRODUCTION
TVNZ’s determination to provide both public value and commercial success has progressed in significant ways during the first six months of the 2008 financial year.
While the company is still in the early stages of a three-year ‘turnaround’ plan, there is cause for optimism.
Earnings before interest, tax and fair value changes on derivative financial instruments returned $32.3 million compared with $31.2 million in the same period the prior year.
The financial results this year have been prepared, for the first time, in accordance with the New Zealand equivalents to International Financial Reporting Standards (IFRS). Consequently, they show a change in the way the company has recognised Government funding and the fair value of derivative financial instruments.
The after-tax result for the half year was a profit of $20.6 million – an increase of $4.7 million on the same period last year.
Full details of the IFRS changes are recorded in the notes to the accounts.
It should be noted that the current period includes the initial costs of the launch of TVNZ 6 and associated Government funding revenues.
The launch of this channel on the Freeview platform and the imminent launch of TVNZ 7 mark a most significant development in TVNZ’s capacity as a public broadcaster.
Sir John Anderson Chairman
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CHIEF EXECUTIVE’S OVERVIEW
TVNZ began the current financial year repositioned for profitable growth and the development of our public service role, following a period of some disruption during the necessary restructuring of the preceding year.
The results of the first six months have been highly encouraging, both in terms of our financial result and the improved performance of both channels compared with the same period last year.
In our Statement of Intent, we made a commitment to focus this financial year on five significant areas of business activity:
• Channel turnaround • Public value enhancement • Emerging business opportunities • Organisational design • Digital infrastructure, channels and services
I am pleased to report solid progress in all areas.
Channel Turnaround
A key priority has been to halt the erosion of audience suffered by TV ONE, and in particular ONE News, over a period of years. The total audience for ONE News has always been vastly bigger than that of our competitors – by some two hundred thousand viewers – but the decline in some commercial demographics has been cause for concern.
While the battle for the hearts and remotes of Aucklanders continues, ONE News achieved a year on year gain in the last two months of the period, and the channel as a whole either equalled or surpassed its prior year ratings and share performance in four of the last six months.
Other programmes in the News and Current Affairs stable continued to perform strongly, notably Breakfast, which has increased its audience by 27% since a competitor entered the market. At its peak, the programme is now attracting prime time audience sizes – a new development in the New Zealand television market.
TV2 rebuilt strongly in the second quarter, exceeding its ratings performance at the same time last year in all three months.
The serial murder storyline of Shortland Street delivered its best performance for the calendar year in December, with an average rating of 18.7 and a share of nearly 60% of the available audience.
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The locally-made programme Sensing Murder also performed extremely strongly.
Public Value Enhancement
A new Charter Performance Measurement framework is being used this year to assess the public’s opinions on TVNZ’s Charter delivery. Finding agreement on a comprehensive set of measures that capture both qualitative and quantitative judgements has been a difficult task, and TVNZ worked closely with the Ministry for Culture and Heritage to achieve this.
The full framework will be reported against in the Annual Report at the completion of this financial year but we have undertaken to provide an interim analysis for the half year, which can be found on page 30 of this document.
The TVNZ Act 2003 requires the House of Representatives to review the Charter within five years of its implementation.
During this half year, TVNZ conducted a nationwide consultation process to give its feedback to Parliament. A redraft of the TVNZ Charter was presented to the public and after an extensive advertising campaign around 280 submissions were received from individuals and organisations in New Zealand and abroad. A working party chaired by well-known broadcasting academic Peter Thompson from UNITEC reviewed the submissions and made amendments to the redrafted TVNZ Charter. This redraft was then forwarded to the Government which has now passed it on to the Commerce Select Committee for consideration.
TVNZ’s Government-supported service into the Pacific has been extremely well- received, and as a result of the high New Zealand dollar has been able to exceed the required number of hours of material on the regular feeds.
A feature was the live coverage of the soccer match in Wellington between Phoenix and LA Galaxy, featuring David Beckham, which generated wide interest throughout the Pacific.
TVNZ believes the advent of digital broadcasting provides an opportunity to extend this service, and discussions with the Government on specific proposals are now under consideration.
During the period, TVNZ developed and announced a Maori programming strategy, with the aim of tripling the number of broadcast hours previously devoted to Maori programmes. The thrust of the strategy was to maintain and enhance our core Maori programming – Te Karere, Marae and Waka Huia – and to increase the amount of general programming reflecting a Maori perspective through drama, reality shows and language programmes.
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Emerging Business
A key plank of TVNZ’s strategic plan is the strengthening of relationships with other media partners – a recognition of the increasing complexity and fragmentation of the media landscape.
This half year, we signed a ground-breaking strategic partnership with New Zealand’s biggest website Bebo, which will deliver our premium content to Bebo viewers while offering advertisers access to a huge new audience.
Bebo has the largest number of page views of any website in New Zealand and has more than doubled its online audience in the past year. It also holds the top position in the New Zealand social networking market.
We also responded to clear signals from the market, here and overseas, by adapting the business model for TVNZ ondemand to eliminate “pay for view” in favour of free downloads accompanied by advertising. Viewer preference was literally a thousand to one in favour of free downloads. This decision has clarified the way forward in building our online services as a substantial revenue stream.
Critical to the success of our emerging business opportunities is our ability to negotiate and secure multi-platform rights.
This half year TVNZ has implemented a new rights management structure and our Commissioning team has begun the new practice of scanning every production idea for its potential across all platforms.
Organisational Design
Structural changes were largely complete by the beginning of this financial year. The focus is now on the cultural changes required to implement the strategic plan.
It is important to recognise the significance of leadership and the value of an organisation’s human capital. I am happy to place on record my belief that the biggest asset TVNZ has is the talent and passion of its staff. The focus of Human Resources planning over the past six months has been to harness this so that it is reflected in every aspect of our business – from recruitment, to learning and development, to reward and recognition.
As part of this, fifty senior staff began a year long Business Leadership Programme at the University of Auckland Business School in November.
Digital Broadcasting
Several highly significant steps forward were accomplished in the six month period.
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The first of TVNZ’s new digital channels, TVNZ 6, was launched in September via the Freeview satellite service – on time and on budget.
Anecdotal feedback suggests viewers and critics have warmly welcomed the channel’s content, with a particularly favourable response to children’s programming.
Plans are well advanced and on target for the launch of the factual channel, TVNZ 7, on March 30 2008.
TVNZ’s digital services were successfully shifted to Widescreen 16:9 format in September. The technical aspects were handled smoothly and although there were queries and complaints from viewers they were fewer than might have been expected.
We also announced our intention to broadcast the Beijing Olympics in High Definition on the Freeview DTT (terrestrial) platform in August 2008.
This will provide a launch pad for High Definition (HD), in much the way the 1974 Commonwealth Games in Christchurch were used to launch colour TV.
However the transition to full HD on TV ONE and TV2 must be a progressive journey over a period of time, given that this step in broadcasting history involves complex changes in work practices, supplier arrangements and technology.
TVNZ has completed the delivery of key technology to support Freeview’s two platforms, and has also completed significant internal infrastructure upgrades to support our own new digital channels.
It has been an extremely busy six months, but our three-year journey of recovery is well underway and I am satisfied that our efforts are considered, focused and visibly bearing fruit.
Rick Ellis Chief Executive
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Television New Zealand Limited
Interim Financial Statements
For the six months ended 31 December 2007
Contents Page
Income Statement 8 Balance Sheet 9 Statement of Changes in Equity 10 Cash Flow Statement 11 Notes to the Financial Statements 12
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Television New Zealand Limited
Income Statement
For the six months ended 31 December 2007
Six Months Six Months Year Ended Ended Ended 31/12/07 31/12/06 30/06/07 $000 $000 $000
Income Operating revenue 182,715 187,262 337,989 Government funding 25,938 15,790 35,864 (MCH, NZ On Air, Te Mangai Paho) Interest income 494 582 1,108 Other income 115 7 10 209,262 203,641 374,971
Expenses Programme amortisation (110,425) (106,286) (229,477) Employee benefits (30,539) (31,361) (63,097) Depreciation and amortisation ( 7,644) ( 7,692) (15,137) Transmission (10,981) (11,020) (21,962) Marketing ( 6,387) ( 5,316) (13,906) Other (11,014) (10,785) (18,720) (176,990) (172,460) (362,299)
Earnings before non recurring items, interest, tax and financial instruments 32,272 31,181 12,672
Reorganisation costs 0 0 (11,145) Interest expense ( 2,112) ( 2,137) (4,136) Fair value changes on derivative financial instruments 1, 244 ( 5,199) (6,827)
Profit/(deficit) before income tax 31,404 23,845 (9 ,436)
Income tax (expense)/benefit (10,760) ( 7,968) 2, 268
Profit/(deficit) for the period 20,644 15,877 (7 ,168)
The accompanying notes form part of these financial statements.
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Television New Zealand Limited
Balance Sheet
As at 31 December 2007
As at As at As at 31/12/07 31/12/06 30/06/07 $000 $000 $000
ASSETS Current Assets Cash and cash equivalents 11,474 15,864 13,159 Receivables and prepayments 50,820 46,068 53,880 Programme rights - intangible assets 70,445 86,595 91,611 Inventories 296 398 302 Property, plant and equipment held for sale 1, 620 0 1,620 Derivative financial instruments 322 1, 920 1,634 Total current assets 134,977 150,845 162,206 Non-current assets Property, plant and equipment 107,460 105,828 105,154 Programme rights - intangible assets 28,422 26,803 22,641 Other intangibles 15,620 14,680 15,502 Deferred tax asset 14,799 13,479 18,455 Other investments 42 42 42 Total non-current assets 166,343 160,832 161,794
Total assets 301,320 311,677 324,000
LIABILITIES Current Liabilities Loans and borrowings 0 433 764 Trade and other payables 40,377 44,192 54,338 Deferred income 32,696 28,823 34,250 Income tax payable 4, 007 2, 398 0 Derivative financial instruments 3, 184 6, 618 8,107 Provisions 1, 590 71 7,979 Total current liabilities 81,854 82,535 105,438
Non-current liabilities Employee entitlements 1, 947 2, 026 2,135 Borrowings 23,300 30,400 42,750 Total non-current liabilities 25,247 32,426 44,885
Equity Contributed equity 140,000 140,000 140,000 Reserves (6) 90 96 Retained earnings 54,225 56,626 33,581 Total equity 194,219 196,716 173,677 Total equity and liabilities 301,320 311,677 324,000
The accompanying notes form part of these financial statements.
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Television New Zealand Limited
Statement of Changes in Equity
For the six months ended 31 December 2007
Cash flow Share hedge Retained Capital reserve earnings Total $000 $000 $000 $000
At 1 July 2007 140,000 96 33,581 173,677 Effective portion of changes in fair value of cash flow hedges, net of tax 0 (102) 0 (102) Income and expense recognised directly in equity 0 (102) 0 (102)
Profit for the period 0 0 20,644 20,644
Total recognised income and expense 0 (102) 20,644 20,542
At 31 December 2007 140,000 (6) 54,225 194,219
At 1 July 2006 140,000 1, 011 40,749 181,760 Effective portion of changes in fair value of cash flow hedges, net of tax 0 (921) 0 (921) Income and expense recognised directly in equity 0 (921) 0 (921)
Profit for the period 0 0 15,877 15,877
Total recognised income and expense 0 (921) 15,877 14,956
At 31 December 2006 140,000 90 56,626 196,716
At 1 July 2006 140,000 1, 011 40,749 181,760 Effective portion of changes in fair value of cash flow hedges, net of tax 0 (915) 0 (915) Income and expense recognised directly in equity 0 (915) 0 (915)
Deficit for the period 0 0 (7,168) (7,168)
Total recognised income and expense 0 (915) (7,168) (8,083)
At 30 June 2007 140,000 96 33,581 173,677
The accompanying notes form part of these financial statements.
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Television New Zealand Limited
Cash Flow Statement
For the six months ended 31 December 2007
Six Months Six Months Year Ended Ended Ended 31/12/07 31/12/06 30/06/07 Notes $000 $000 $000
Cash flows from/(used in) operating activities Receipts from customers 185,097 191,001 340,837 Government grants 27,948 17,722 37,708 Interest received 498 575 1,105 Payments to suppliers and employees (182,935) (164,847) (339,137) Interest paid ( 2,124) ( 2,088) (4,128) Income tax paid (6) ( 2,967) (3,148) Net cash flows from/(used in) operating activities 5 28,478 39,396 33,237
Cash flows from/(used in) investing activities Proceeds from sale of property, plant and equipment 468 7 17 Purchase of property, plant and equipment ( 8,768) ( 1,984) (8,844) Purchase of intangibles ( 1,653) ( 2,275) (4,635) Net cash flows from/(used in) investing activities (9,953) ( 4,252) (13,462)
Cash flows from/(used in) financing activities Repayment of borrowings (19,450) (18,600) ( 6,250) Dividends paid 0 (14,525) (14,525) Net cash flows from/(used in) financing activities (19,450) (33,125) (20,775)
Net increase/(decrease) in cash and cash equivalents (925) 2, 019 (1,000) Net foreign exchange differences 4 (38) (55) Cash and cash equivalents at the beginning of the period 12,395 13,450 13,450 Cash and cash equivalents at the end of the period. 11,474 15,431 12,395
The accompanying notes form part of these financial statements.
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Television New Zealand Limited
Notes to the Financial Statements
For the six months ended 31 December 2007
1. Corporate information Television New Zealand Limited (the “Company”) and its subsidiaries (the “Group’) operate in the broadcasting and production of television programmes and channels within New Zealand.
The Company is a limited liability company incorporated in New Zealand under the Companies Act 1993 and is wholly owned by the Crown. The Company is bound by the requirements of the Television New Zealand Act 2003. The Crown does not guarantee the liabilities of Television New Zealand Limited in any way.
These consolidated financial statements were approved for issue by the Board of Directors on 28 February 2008.
2. Summary of significant accounting policies The principal accounting policies adopted in the preparation of the unaudited interim financial statements are set out below. These policies have been consistently applied to all periods presented, unless otherwise stated.
a) Basis of preparation The unaudited interim financial statements have been prepared in accordance with NZ IAS 34 Interim Financial Reporting and the requirements of the Television New Zealand Act 2003. The financial statements have been prepared on a historical cost basis except for derivative financial instruments that have been measured at fair value.
The carrying values of recognised assets and liabilities that are hedged with fair value hedges are adjusted to record changes in the fair values attributable to the risks that are being hedged.
The preparation of interim financial statements in compliance with NZ IAS 34 Interim Financial Reporting requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates.
The financial statements are presented in New Zealand dollars ($), which is the Company’s functional currency. All financial information presented in New Zealand dollars has been rounded to the near thousand.
b) Statement of compliance The unaudited interim consolidated financial statements have been prepared in accordance with, and comply with all aspects of, NZ IAS 34 Interim Financial Reporting. These interim financial statements are the Groups first interim financial statements to be prepared in accordance with accounting policies which comply with NZ IFRS and other applicable Financial Reporting Standards as appropriate for profit orientated entities. NZ IFRS 1 First- time Adoption of New Equivalents to International Financial Reporting Standards has been applied in preparing these interim financial statements. The consolidated interim financial statements do not include all of the information required for full financial statements.
The preparation of the consolidated interim financial statements in accordance with NZ IAS 34 resulted in changes in accounting policy as compared with the most recent annual financial statements prepared under a previous NZ GAAP. The accounting policies set out below have been applied consistently to all periods presented in these consolidated interim financial statements and in preparing an opening balance NZ IFRS balance sheet at 1 July
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Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
2006. Reconciliations and explanations of the effect of transition to NZ IFRS are presented in Note 9.
c) Basis of consolidation The consolidated financial statements comprise the financial statements of Television New Zealand Limited and its subsidiaries at 31 December and 30 June.
Subsidiaries are those entities controlled, directly or indirectly, by the Group. The financial statements of subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. Adjustments are made to bring into line any dissimilar accounting policies that may exist. All intercompany transactions, balances and unrealised surpluses and deficits on transactions between Group companies are eliminated on consolidation.
The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases.
The acquisition of subsidiaries is accounted for using the purchase method of accounting.
d) Segment reporting A business segment is a group of assets and operations engaged in providing products or services that are subject to risks and returns that are different to those of other business segments. A geographical segment is engaged in providing products or services within a particular economic environment and is subject to risks and returns that are different from those of segments operating in other economic environments.
e) Foreign currency The functional and presentational currency of Television New Zealand Limited and its subsidiaries is the New Zealand dollar ($).
Transactions in foreign currencies are translated to the functional currency at the exchange rates ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the exchange rates ruling at balance date.
Foreign currency differences arising on the translation of monetary assets and liabilities in foreign currencies are recognised in the income statement.
Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate as at the date of the initial transaction.
f) Revenue recognition Revenue is stated exclusive of GST and consists of sales of goods and services to third parties. Revenue from the sale of goods and services is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Key classes of revenue are recognised on the following basis:
i) Rendering of services: Revenue from advertising and sponsorship is recognised as income at the time of transmission.
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Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
ii) Government grants: Government grants are recognised initially as deferred income when there is reasonable assurance that they will be received and that the Group will comply with the conditions associated with the grant. Grants that compensate the Group for expenses incurred are recognised as income on a systematic basis in the same periods in which the expenses are recognised. Grants that compensate the Group for the cost of an asset are recognised as income in the income statement on a systematic basis over the useful life of the asset.
iii) Other revenue: Other revenue is recognised when the product has been delivered or in the accounting period in which the actual service has been provided.
iv) Interest: Interest revenue is recognised as the interest accrues to the net carrying amount of the financial asset.
f) Income tax expense Income tax expense comprises current and deferred tax. Income tax expense is recognised in the income statement except to the extent that it relates to items recognised directly in equity, in which case it is recognised in equity.
Deferred tax is recognised using the balance sheet method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes, and the amounts used for taxation purposes.
Future tax benefits are recognised where realisation of the asset is probable.
Deferred tax is measured at the tax rates that are expected to apply when the temporary differences reverse, based on tax rates (and tax law) that have been enacted or substantively enacted at the balance sheet date.
g) Leases Operating lease payments, where the lessors substantially retain all the risks and benefits of ownership of the leased items, are recognised as an expense in the income statement on a straight-line basis over the lease term.
h) Dividends Provision is made for the amount of dividend declared on or before balance date but not distributed at balance date.
i) Property, plant and equipment Items of property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. Cost includes the cost to acquire the asset and other directly attributable costs incurred to bring the asset to the location and condition for its intended use. Purchased software that is integral to the functionality of the related equipment is capitalised as part of that equipment. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.
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Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
Depreciation is calculated on a straight-line basis to allocate the cost of assets over their estimated useful lives. Land is not depreciated.
The estimated useful lives for the current and comparable period are: Buildings 40 years Leasehold improvements 3 to 10 years Studio and transmission equipment 5 to 10 years Other plant and equipment 3 to 10 years Motor vehicles 5 to 10 years
Impairment The carrying values of plant and equipment are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. For an asset that does not generate largely independent cash flows, the recoverable amount is determined for the cash-generating unit the asset belongs. If any such indication exists and where the carrying values exceed the estimated recoverable amount, the assets or cash generating units are written down to their recoverable amount.
An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset.
Where an item of property, plant and equipment is derecognised, the gain or loss (calculated as the difference between the net proceeds and the carrying value of the item) is included in the income statement in the period the item is derecognised.
j) Intangible assets Programme Rights Television programmes which are available for use, including those acquired overseas, are recorded at cost less amounts charged to the income statement based on management’s assessment of the useful life, which is regularly reviewed and additional write downs are made as considered necessary. Programmes produced internally for the purpose of broadcast are recognised as intangible assets at production cost.
Programme rights are amortised on the following basis: (i) Non movie programme rights are amortised on a straight line basis such that all rights are amortised within a period not exceeding one year from the broadcast licence period start date.
(ii) Movie programme rights are amortised on a straight line basis such that all rights are amortised within a period not exceeding three years from the broadcast licence period start date.
Frequency licences Frequency licences are recorded at cost less amortisation and impairment losses. Amortisation is calculated on a diminishing value methodology using the sum of digits over the remaining life of the licence.
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Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
Other intangible assets Acquired software licences are capitalised on the basis of the costs incurred to acquire and bring to use the specific asset. These costs are amortised on a straight line basis over their estimated useful economic lives of two to five years.
k) Cash and cash equivalents Cash and short term deposits in the balance sheet comprise cash at the bank and in hand and short term deposits with an original maturity of three months or less.
For the purposes of the cash flow statement, cash and cash equivalents comprise cash and cash equivalents as defined above, net of outstanding overdrafts.
l) Trade and other receivables Trade receivables are recognised and carried at original invoice amount and subsequently measured at amortised cost, less an allowance for impairment.
Collectibility of trade receivables is reviewed on an ongoing basis and debts that are known to be uncollectible are written off immediately. An allowance for doubtful debts is recognised when there is objective evidence that the Group will not be able to collect the receivable.
m) Inventories Inventories comprise technical stores and videotape. All inventories are recorded at the lower of cost or net realisable value.
n) Derivative financial instruments The Group uses derivative financial instruments, within predetermined policies and limits, to manage its exposure to foreign currency exchange rate risk and interest rate risk.
Such derivative financial instruments are initially recognised at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value. The method of recognising the resulting gain or loss depends on whether the derivative contract is designed to hedge a specific risk and qualifies for hedge accounting.
Each derivative that is designated as a hedge is classified as either: i) a fair value hedge when they hedge the exposure to changes in the fair value of a recognised asset or liability or a firm commitment; or ii) a cash flow hedge where they hedge exposure to variability in cash flows that is either attributable to a particular risk associated with a recognised asset or liability or a forecasted transaction.
i) Fair value hedge: Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in the income statement, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk
ii) Cash flow hedge: The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges are recognised in equity. The gain or loss relating to the ineffective portion is recognised in the income statement. Amounts accumulated are recycled in the income statement in the period when the hedged item affects profit or loss.
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Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
When the hedged firm commitment results in the recognition of an asset or a liability, then, at the time the asset or liability is recognised, the associated gains or losses that had previously being recognised in equity are included in the initial measurement of the acquisition cost or other carrying amount of the asset or liability.
Hedge accounting is discontinued when the hedging instrument expires or is sold, or when the hedge no longer meets the criteria for hedge accounting. At that point any cumulative gain or loss existing in equity remains in equity until the forecasted transaction occurs. When a forecasted transaction is no longer expected to occur, the cumulative gain or loss is immediately transferred to the income statement.
For derivatives that do not qualify for hedge accounting, any gains or losses arising from changes in fair value are recognised immediately in the income statement. The fair value of forward exchange contracts is calculated by reference to current forward exchange rates for contracts with similar maturity profiles. The fair value of interest rate swap contracts is determined by reference to market values of similar instruments.
In accordance with its treasury policy, the Group does not engage in speculative transactions or hold derivative financial instruments for trading purposes.
o) Borrowings and borrowing costs Borrowings are initially recognised at fair value, net of transactions costs incurred. Borrowings are subsequently measured at amortised cost using the effective interest method.
Borrowing costs are recognised as an expense when incurred.
p) Trade and other payables Trade and other payables are carried at amortised cost and due to their short term nature they are not discounted. Trade and other payables are recognised when the Group becomes obliged to make future payments resulting from the purchases of goods and services.
q) Employee benefits Provision is made for employee benefits accumulated as a result of employees rendering services up to balance date. The benefits include wages and salaries, incentives, compensated absences and retirement leave which are expensed in the income statement when services are provided or benefits vest with the employee. The provision for employee benefits is stated at the present value of the estimated future cash outflows to be incurred resulting from employees’ services provided up to balance date.
r) Provisions Provisions are recognised when the Group has present legal or constructive obligation as a result of a past event that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.
If the effect of time value of money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability.
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Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
s) Interest in a jointly controlled entity The interest in a joint venture entity is accounted for in the consolidated financial statements using the equity method of accounting and is carried at cost by the parent entity. Under the equity method, the Group’s share of the results of the joint venture is recognised in the income statement, and the share of movements in reserves is recognised in the balance sheet.
t) Changes in accounting policies The accounting policies have been presented in full as this is the first opportunity to disclose policies adopted by the Group under NZ IFRS. The accounting policies have been applied consistently for all periods presented.
3. Cyclicality of operations Due to the cyclical nature of the Group’s operations, higher advertising revenues and operating profits are usually expected in the first half of the financial year.
4. Segment information Primary reporting format - Business segments The Group operates predominately in one business segment: the broadcasting and production of television programmes and channels.
Secondary reporting format – Geographic segments The Group operates predominately in one geographic segment: New Zealand.
Six Months Six Months Year Ended Ended Ended 31/12/07 31/12/06 30/06/07 $000 $000 $000
5) Reconciliation of profit after tax to net cash flow from operating activities
Net profit 20,644 15,877 (7 ,168) A djustm ents for: Depreciation 6, 109 6, 291 12,231 Amortisation 1, 535 1, 401 2,906 Gain on disposal of property, plant and equipm ent (115) (7) (10) Unrealised foreign currency losses 615 94 894
Changes in assets and liabilities Increase/(decrease) in receivables and prepayments 15 3, 594 (1,173) Increase/(decrease) derivative financial instruments ( 3,763) 7, 486 9,268 Increase/(decrease) future income tax benefit 3, 705 2, 721 (2,610) Increase/(decrease) inventories 6 (42) 54 Increase/(decrease) programme rights 15,385 654 (200) Increase/(decrease) trade and other payables (14,364) (373) 9,096 Increase/(decrease) deferred income ( 1,954) (550) 4,877 Increase/(decrease) income tax payable 7, 049 2, 280 (2,806) Increase/(decrease) provisions ( 6,389) (30) 7,878
Net cash from operating activities 28,478 39,396 33,237
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Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
Six Months Six Months Year Ended Ended Ended 31/12/07 31/12/06 30/06/07 $000 $000 $000
6) Commitments Programme rights 223,001 315,669 264,485 Operating leases 8, 673 7, 885 9,110 Property, plant and equipment 4, 396 13,498 7, 003 236,070 337,052 280,598 7) Contingent liabilities In the normal course of business various legal claims have been made against Television New Zealand Limited. Given the stage of proceedings and uncertainty as to the outcomes of the cases, no estimate of the financial effect can be made and no provision for any potential liability has been made in the financial statements.
8) Events after the balance sheet date There have been no significant events occurring since balance date requiring disclosure.
9) Explanation of transition to New Zealand equivalents to International Financial reporting Standards As stated in Note 2b, these are the Groups first consolidated interim financial statements prepared in accordance with NZ IFRS accounting policies. The first annual financial statements prepared under NZ IFRS will be for the year ended 30 June 2008.
The accounting policies set out in Note 2 have been applied in preparing the Groups interim financial statements for the six months ended 31 December 2007, the comparative information presented in these financial statements for the six months ended 31 December 2006 and for the year ended 30 June 2007 and in the preparation of an opening NZ IFRS balance sheet at 1 July 2006 (the Group’s date of transition).
In preparing its opening NZ IFRS balance sheet, comparative information for the period and financial statements for the year ended 30 June 2007, the Group has adjusted amounts reported previously in financial statements prepared in accordance with its old basis of accounting (previous NZ GAAP). An explanation of how the transition from previous NZ GAAP to NZ IFRS has affected the Group’s financial position, income statement and cash flows is set out in the following tables and the notes that accompany the tables.
20 TVNZ Interim Report FY2008
Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
9) Explanation of transition to New Zealand equivalents to International Financial reporting Standards (continued) i) Reconciliation of equity reported under previous NZ GAAP to equity under NZ IFRS Effect of Previous transition NZ GAAP to NZ IFRS NZ IFRS Notes $000$000$000 a) At the date of transition to NZ IFRS, 1 July 2006
ASSETS Current Assets Cash and cash equivalents 14,682 0 14,682 Receivables and prepayments 49,685 0 49,685 Programme rights a 86,992 (749) 86,243 Inventories 356 0 356 Derivative financial instruments b 1,517 6,024 7,541 Total current assets 153,232 5, 275 158,507 Non-current assets Property, plant and equipment c 117,752 (7 ,482) 110,270 Programme rights 27,809 0 27,809 Other intangibles c 6, 189 7, 482 13,671 Deferred tax asset d 7 ,324 8, 423 15,747 Other investments 42 0 42 Total non-current assets 159,116 8, 423 167,539 Total assets 312,348 13,698 326,046
LIABILITIES Current Liabilities Loans and borrowings 1 ,232 0 1,232 Trade and other payables 44,602 0 44,602 Deferred income e 1 ,953 27,420 29,373 Income tax payable 118 0 118 Derivative financial instruments b 0 3,379 3,379 Provisions 14,626 0 14,626 Total current liabilities 62,531 30,799 93,330
Non-current liabilities Employee entitlements 1 ,956 0 1,956 Borrowings 49,000 0 49,000 Total non-current liabilities 50,956 0 50,956 Equity Contributed equity 140,000 0 140,000 Reserves b 0 1,011 1,011 Retained earnings a,b,e 58,861 (18,112) 40,749 Total equity 198,861 (17,101) 181,760 Total equity and liabilities 312,348 13,698 326,046
21 TVNZ Interim Report FY2008
Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
9) Explanation of transition to New Zealand equivalents to International Financial reporting Standards (continued) Effect of Previous transition NZ GAAP to NZ IFRS NZ IFRS Notes $000 $000 $000
b) At the end of the comparative period reported under previous NZ GAAP, 31 December 2006
ASSETS Current Assets Cash and cash equivalents 15,864 0 15,864 Receivables and prepayments 45,733 335 46,068 Programme rights 87,412 (817) 86,595 Inventories 398 0 398 Derivative financial instruments b 0 1,920 1,920 Total current assets 149,407 1, 438 150,845 Non-current assets Property, plant and equipment c,h 115,075 (9 ,247) 105,828 Programme rights 26,803 0 26,803 Other intangibles c 5, 570 9,110 14,680 Deferred tax asset d 2 ,730 10,749 13,479 Other investments 42 0 42 Total non-current assets 150,220 10,612 160,832 Total assets 299,627 12,050 311,677
LIABILITIES Current Liabilities Loans and borrowings 64 369 433 Trade and other payables 44,246 (54) 44,192 Deferred income 1, 459 27,364 28,823 Income tax payable 2 ,437 (39) 2,398 Derivative financial instruments b 305 6,313 6,618 Provisions 71 0 71 Total current liabilities 48,582 33,953 82,535 Non-current liabilities Employee entitlements 2 ,026 0 2,026 Borrowings 30,400 0 30,400 Total non-current liabilities 32,426 0 32,426 Equity Contributed equity 140,000 0 140,000 Reserves a 0 90 90 Retained earnings a,b,e 78,619 (21,993) 56,626 Total equity 218,619 (21,903) 196,716 Total equity and liabilities 299,627 12,050 311,677
22 TVNZ Interim Report FY2008
Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
9) Explanation of transition to New Zealand equivalents to International Financial reporting Standards (continued) Effect of Previous transition NZ GAAP to NZ IFRS NZ IFRS Notes $000 $000 $000
c) At the end of the last reporting period under previous NZ GAAP, 30 June 2007
ASSETS Current Assets Cash and cash equivalents h 13,590 (431) 13,159 Receivables and prepayments h 53,959 (79) 53,880 Programme rights a 92,057 (446) 91,611 Inventories 302 0 302 Deferred tax asset 4 ,553 (4,553) 0 Property, plant and equipment held for sale 1, 620 0 1,620 Derivative financial instruments b 0 1,634 1,634 Total current assets 166,081 (3 ,875) 162,206
Non-current assets Property, plant and equipment c 115,705 (10,551) 105,154 Programme rights 22,641 0 22,641 Other intangibles c 4, 951 10,551 15,502 Deferred tax asset d 4 ,242 14,213 18,455 Other investments 42 0 42 Total non-current assets 147,581 14,213 161,794
Total assets 313,662 10,338 324,000
LIABILITIES Current Liabilities Loans and borrowings 764 0 764 Trade and other payables 54,532 (194) 54,338 Deferred income e 9 ,451 24,799 34,250 Derivative financial instruments b 1,690 6,417 8,107 Provisions 7, 979 0 7,979 Total current liabilities 74,416 31,022 105,438
Non-current liabilities Employee entitlements 2 ,135 0 2,135 Borrowings 42,750 0 42,750 Total non-current liabilities 44,885 0 44,885
Equity Contributed equity 140,000 0 140,000 Reserves a 0 96 96 Retained earnings a,b,e 54,361 (20,780) 33,581 Total equity 194,361 (20,684) 173,677 Total equity and liabilities 313,662 10,338 324,000
23 TVNZ Interim Report FY2008
Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
9) Explanation of transition to New Zealand equivalents to International Financial reporting Standards (continued) ii) Reconciliation of profit/(deficit) under previous NZ GAAP to profit under NZ IFRS Effect of Previous transition NZ GAAP to NZ IFRS NZ IFRS Notes $000 $000 $000
a) Reconciliation of profit for the period ended 31 December 2006
Income Operating revenue f 188,823 (1 ,561) 187,262 Government funding e 15,734 56 15,790 (MCH, NZ On Air, Te Mangai Paho) Interest income 583 (1) 582 Other income g 0 7 7 205,140 (1 ,499) 203,641
Expenses Programme amortisation a (106,218) (68) (106,286) Employee benefits (31,361) 0 (31,361) Depreciation and amortisation ( 7,692) 0 (7,692) Transmission (11,020) 0 (11,020) Marketing ( 5,316) 0 (5,316) Other f,g,h (12,223) 1, 438 (10,785) (173,830) 1, 370 (172,460)
Earnings before interest, tax and financial instruments 31,310 (129) 31,181
Reorganisation costs 0 0 0 Interest expense ( 2,137) 0 (2,137) Financial Instruments b 465 (5,664) (5,199)
Profit/(deficit) before income tax 29,638 (5 ,793) 23,845
Income tax benefit/(expense) (9,880) 1,912 (7,968)
Profit/(deficit) for the period 19,758 (3 ,881) 15,877
24 TVNZ Interim Report FY2008
Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
9) Explanation of transition to New Zealand equivalents to International Financial reporting Standards (continued) Effect of Previous transition NZ GAAP to NZ IFRS NZ IFRS Notes $000 $000 $000
b) Reconciliation of profit/(deficit) for the year ended 30 June 2007
Income Operating revenue f,h 340,536 (2 ,547) 337,989 Government funding e 33,559 2, 305 35,864 (MCH, NZ On Air, Te Mangai Paho) Interest income 1,108 0 1,108 Other income g 0 10 10 375,203 (232) 374,971
Expenses Programme amortisation a (229,780) 303 (229,477) Employee benefits (63,097) 0 (63,097) Depreciation and amortisation (15,137) 0 (15,137) Transmission (21,962) 0 (21,962) Marketing (13,906) 0 (13,906) Other f,g,h (21,257) 2, 537 (18,720) (365,139) 2, 840 (362,299)
Earnings before interest, tax and financial instruments 10,064 2, 608 12,672
Reorganisation costs (11,145) 0 (11,145) Interest expense ( 4,136) 0 (4,136) Financial Instruments b (766) (6,061) (6,827)
Profit/(deficit) before income tax ( 5,983) (3,453) (9,436)
Income tax benefit/(expense) 1,483 785 2,268
Profit/(deficit) for the period ( 4,500) (2,668) (7,168)
25 TVNZ Interim Report FY2008
Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
9) Explanation of transition to New Zealand equivalents to International Financial reporting Standards (continued)
iii) Reconciliation of cash flow statement The adoption of NZ IFRS has not resulted in any material adjustments to the cash flow statement other than the change in accounting policy for joint ventures (see iv h below).
iv) Notes to the reconciliations:
a) Programme rights Under NZ IFRS certain programme development costs no longer meet the criteria to be capitalised as intangible assets, these costs have been expensed to the income statement.
b) Derivative financial instruments The Group maintains a portfolio of forward foreign currency contracts to hedge currency risks resulting from the purchase of programme rights and other goods and services denominated in foreign currencies. The Group also uses interest rate swap agreements to hedge interest rate risks. Under previous NZ GAAP these contracts are accounted for as off balance sheet hedges with any gains or losses being recognised on the same basis as the underlying hedged item.
Under NZ IFRS all derivative contracts, including foreign exchange and interest rate hedges, are recognised at fair value in the Statement of Financial Position. Changes in the fair value of the derivatives are recognised in the Statement of Financial Performance unless strict hedge accounting criteria has been met. A large proportion of programme rights purchases, denominated in a foreign currency, contain an embedded derivative. Under NZ IFRS hedge accounting cannot be applied to the embedded derivative portion of the contract. For other foreign currency and interest rate hedging the Company applies hedge accounting where the criteria are met.
c) Property, plant and equipment Under NZ IFRS software is classified as part of intangible assets rather than property, plant and equipment. While the amount previously depreciated on these assets is unchanged it is now classified as amortisation.
d) Deferred Tax/Future income tax benefit Under NZ IFRS deferred tax is calculated based on a balance sheet approach. This method recognises deferred tax assets and liabilities by reference to temporary differences between the accounting and tax values of balance sheet items. Previous NZ GAAP recognised differences between the accounting surplus and taxable income.
The Future income tax benefit of tax losses previously classified as a current asset is now classified as a non current asset.
e) Government grants The Group receives grants from various Government agencies in the normal course of business. Under previous NZ GAAP direct Government funding from the Ministry of Culture and Heritage was recognised in the Statement of Financial Performance when specific conditions attached to the funding had been fulfilled, generally on receipt.
26 TVNZ Interim Report FY2008
Television New Zealand Limited
Notes to the Financial Statements (continued)
For the six months ended 31 December 2007
9) Explanation of transition to New Zealand equivalents to International Financial reporting Standards (continued)
Under NZ IFRS Government Grants are recognised as income over the period necessary to match them with the costs they are intended to compensate.
f) Revenue recognition Certain revenue streams where Television New Zealand Limited has determined that it is acting as agent are now reported net i.e. only the commissions.
g) Other income Under NZ IFRS gain on sale of property, plant and equipment is now included in other income.
h) Joint Venture Under NZ IFRS TVNZ has chosen to account for joint ventures using the equity method, previously Joint Ventures were accounted for using the proportionate consolidation method.
27 TVNZ Interim Report FY2008
DIRECT GOVERNMENT FUNDING
TVNZ is required to publicly account for the use of Direct Government Funding provided through Vote Arts, Culture and Heritage.
The table on page 30 sets out the programmes screened in the period 1 July – 31 December 2007 that were funded wholly or in part by Direct Government Funding, and the year in which TVNZ received the funding.
The table on the page overleaf reconciles the receipt of Direct Government Funding with the broadcasting of the programmes which it has funded, by fiscal year.
28 TVNZ Interim Report FY2008
FUNDING RECONCILIATION
Direct Government Funding Received: Total
FY2003 $ 10,667,000 FY2004 $ 13,333,000 FY2005 $ 25,622,222 FY2006 $ 15,111,111 FY2007 $ 15,111,111 FY2008 $ 7,555,556
$ 87,400,000
Direct Government Funded Programmes Broadcast:
Funding Year Funding Year Funding Year Funding Year Funding Year Funding Year Total Year of Broadcast 2003 2004 2005 2006 2007 2008
FY2003 $ 3,941,583 $ 3,941,583 FY2004 $ 5,115,344 $ 6,200,162 $ 11,315,506 FY2005 $ 488,573 $ 5,033,533 $ 5,135,402 $ 10,657,507 FY2006 $ 1,121,500 $ 1,259,577 $ 8,375,470 $ 6,435,816 $ 17,192,363 FY2007 $ 730,393 $ 10,373,334 $ 1,677,180 $ 4,976,223 $ 17,757,130 FY2008 $ 1,738,017 $ 1,311,022 $ 4,579,204 $ 3,236,175 $ 10,864,418
$ 10,667,000 $ 13,223,665 $ 25,622,222 $ 9,424,018 $ 9,555,427 $ 3,236,175 $ 71,728,507
Unscheduled (still to be broadcast) $ 0 $ 109,335 -$ 0 $ 5,687,093 $ 5,555,684 $ 4,319,381 $ 15,671,493
Total Funding $ 10,667,000 $ 13,333,000 $ 25,622,222 $ 15,111,111 $ 15,111,111 $ 7,555,556 $ 87,400,000
29 TVNZ Interim Report FY2008
DIRECT GOVERNMENT FUNDED PROGRAMMING BROADCAST FOR PERIOD 1 JULY 2007 TO 31 DECEMBER 2007
Average Viewers Genre Programme Month of Hours Charter Funding Year NZOA/TMP Audience Reached Transmission Investment FY2005 FY2006 FY2007 FY2008 Funding 5+ 5+
Arts Artsville Jul - Oct 1 3.0 1,385,552 74,530 1, 311,022 61,660 1,344,680 The Book Show Oct - Dec 5 .0 20,000 20 ,000 x 28,880 313,830 Total Arts 18.0 1,405,552 74,530 1, 311,022 20,000 -
Current Affairs Eye to Eye Jul - Sep 6 .5 355,018 355,018 50,110 414,960 Agenda Jul - Nov 1 9.0 500,798 500,798 54,000 780,960 Sunday Jul - Dec 2 2.0 1,365,918 1,365 ,918 564,790 2,740,230 Total Current Affairs 4 7.5 2,221,734 2,221 ,734
Documentary/ The Big Picture Nov - Dec 6 .0 1,663,487 1,6 63,487 81,850 910,170 Factual Lovely Rita Dec 1 .5 20,000 20,000 x 100,100 448,300 Being Billy Apple Dec 1 .5 20,000 20,000 x 87,850 343,810 Ice Jul - Aug 2 .5 318,000 318,000 690,870 1,831,890 Piha Rescue Sep - Oct 5 .0 495,366 495,366 627,050 2,129,760 A Taste of Home Nov - Dec 3 .5 444,673 444,673 405,770 1,469,380 Crimescene Sep 1 .5 219,997 219,997 260,440 777,020 Total Documentary 2 1.5 3,181,523 1,6 63,487 1 ,518,036
Entertainment Sensing Murder Sep - Oct 7 .5 1,000,000 1 ,000,000 504,600 2,342,240 Whatever Happened To? Sep - Oct 8 .0 1,183,224 1 ,183,224 417,420 1,910,020 This Is Your Life Nov 1 .5 207,944 207,944 398,640 1,027,350 Total Entertainment 17 .0 2,391,168 2 ,391,168
Maori Whanau Jul - Sep 3 .9 300,000 300,000 x 48,940 735,560 Total Maori 3 .9 300,000 300,000
Sport Netball World Cup Nov 17.8 350,000 350,000 305,590 2,239,860 Netball Jul - Oct 1 3.0 540,365 540,365 390,020 2,190,330 Hockey Oct 3 .8 48,529 48,529 35,930 303,800 Total Sport 3 4.6 938,894 350,000 588,894
Special Interest Young Farmer Jul 1 .0 57,705 57,705 x 194,880 442,280 BBC World Jul - Dec n/a 367,842 367,842 10,690 1,638,950 Total Special Interest 1 .0 425,547 425,547
TOTAL DIRECT GOVERNMENT FUNDED PROGRAMMING TRANSMITTED 143.5 10,864,418 1,738,017 1, 311,022 4,579,204 3,236,175
* NZOA Funding refers to programmes which have been jointly funding with New Zealand On Air ** The programmes included in this table are all first run only 30 TVNZ Interim Report FY2008
CHARTER PERFORMANCE MEASUREMENT
A new TVNZ Charter performance measurement framework has been developed to help give greater transparency to the company’s performance as a public broadcaster.
It is to be reported on in two stages – in an abridged form at six months, and in full in the Annual Report.
The approach taken, in consultation with the Ministry for Culture and Heritage and the Crown Company Monitoring Advisory Unit, was to summarise the provisions of the Charter into seven broad themes for measurement –
• An informed society • National identity/citizenship • Maori • Diversity • New Zealand talent • Innovation • High standards
These themes are measured against reach, output, impact and quality and reported in the Annual Report. For Interim reports, only reach and output are measured.
Reach is a measure of usage. For the framework, cumulative audience (5+) of both TVNZ analogue channels (TV ONE and TV2) across a specified timeframe will be used. Where applicable, the number of people downloading TVNZ content online and unique visitors to its website will be used. Mass-market programme appeal is also a measure of reach used in this framework.
Output is defined in the framework as the number of hours of content delivered across TVNZ services.
Impact is a measure of external effects such as awards and industry-peer recognition of achievement, and the organisation’s corporate social responsibility.
As a way of gauging quality a unique “Appreciation/Importance Index” has been introduced. This index is based on qualitative and quantitative audience research and asks respondents to rank programmes as both viewers and citizens. This recognises that as a citizen one may appreciate the fact that a certain programme is available, while not liking it personally.
31 TVNZ Interim Report FY2008
The Output Assessment Process
The assessment of which Charter themes were reflected in each programme broadcast in the last six months was carried out using three guiding principles:
- preference would be given to selection of New Zealand programming, on the assumption that it would have an impact intrinsically greater than that of overseas programming
- international programmes such as the large number of natural history or wildlife documentaries, where the emphasis was judged to be as much on entertainment as information, would not be included
- the total hours for each programme would be counted each time it appeared in any category, irrespective of which category was the primary focus of the programme
As a result of this approach, the combined total of hours in all categories is vastly greater than the actual hours broadcast, because many programmes feature in more than one category.
However within each separate category, the total hours provide a baseline position for future comparison.
Definitions
An To provide impartial and comprehensive information and national Informed and international programming that is essential to having an Society informed and educated society National To provide entertaining and informative programming that reflects Identity/ the diverse range of cultures and interests that contribute to an Citizenship overall sense of who we are as New Zealanders Maori To provide entertaining and informative programming that reflects Maori interests, culture, and language and to convey these interests to a wider NZ audience. Diversity To provide entertaining national and international programmes that service the interests and needs of different audiences, including cultures, lifestyles, age and regions, and particularly those that may not be provided for in a purely commercial broadcasting environment High To promote high programming standards and editorial integrity Standards Innovation To promote innovation, risk taking and creativity New To support and promote the talents and the creative resources of Zealand New Zealanders. Talent
32 TVNZ Interim Report FY2008
Charter Performance Measurement
For the six months ended 31 December 2007
FIRST RUN REPEAT TOTAL HOURS OF 5+ REACH IN 5+ REACH IN PROGRAMME TITLE CHANNEL GENRE HOURS HOURS HOURS CAPTIONING UNITS PERCENTAGE
An Informed Society Agenda ONE News & Current Affairs 19.0 19.0 780,960 20.2% Best of Breakfast ONE News & Current Affairs 12.5 12.5 514,200 13.3% Breakfast ONE News & Current Affairs 281.6 281.6 2,313,300 60.0% Business ONE News & Current Affairs 55.0 55.0 920,380 23.9% Business is Booming ONE Factual 8.0 8.0 452,810 11.7% Business Weekend ONE News & Current Affairs 10.0 10.0 395,950 10.3% Close Up ONE News & Current Affairs 62.5 62.5 62.5 3,067,520 79.5% Eye to Eye ONE News & Current Affairs 7.0 7.0 414,960 10.8% Fair Go ONE Factual 11.5 11.5 11.5 2,324,370 60.3% Ice ONE Factual 2.5 2.5 2.5 1,831,890 47.5% In The Wake of the Rainbow Warrior ONE Documentary 1 .0 1.0 1.0 102,820 2.7% Intrepid Journeys ONE Factual 2.0 2.0 387,520 9.9% Midday ONE News & Current Affairs 62.5 62.5 62.5 1,627,010 42.2% ONE News - 4.30pm ONE News & Current Affairs 29.0 29.0 1,480,900 38.4% ONE News - 6.00pm ONE News & Current Affairs 183.3 183.3 183.3 3,420,920 88.7% ONE News - Specials ONE News & Current Affairs 3.0 3.0 592,420 15.4% Special Investigators ONE Factual 3.0 3.0 3.0 1,121,300 29.1% Sunday ONE News & Current Affairs 22.0 22.0 44.0 44.0 2,816,960 73.0% Te Karere ONE Special Interest 32.8 18 .8 51.6 18.8 1,522,860 39.5% The Big Picture ONE Arts 6.0 6.0 6.0 910,170 23.5% The Investigator ONE Documentary 6.0 - 6.0 6.0 1,323,310 34.3% Tonight ONE News & Current Affairs 60.4 60.4 60.4 2,699,060 70.0% 855.1 66 .3 921.4 461.5
National Identity/Citizenship Americas Cup ONE Sport 2.9 - 2.9 582,410 15.1% An Immigrant Nation TVNZ 6 Documentary 5.0 5.0 n/a n/a Artsville ONE Arts 13.0 1 .3 14.3 1,344,680 34.9% Asia Downunder ONE Special Interest 11.0 2 .5 13.5 13.5 775,160 20.1% Bledisloe - Two Nations ONE Documentary 1 .0 1.0 118,590 3.1% Coastwatch ONE Factual 4.5 4.5 4.5 1,792,330 46.5% Cold Water Warm Blood TVNZ 6 Documentary 1.0 1.0 n/a n/a Country Calendar ONE Factual 4.0 4.0 4.0 1,875,930 48.6% Country Calendar TVNZ 6 Factual 6.5 6.5 n/a n/a Ellerslie Flower Show ONE Factual 1.0 1.0 43,380 1.1% Explorers TVNZ 6 Documentary 4.0 4.0 1.0 n/a n/a Eye to Eye ONE News & Current Affairs 7.0 7.0 414,960 10.8% Grandma TVNZ 6 Documentary 1.0 1.0 n/a n/a Ground Rules ONE Factual 6.5 6.5 6.5 226,390 5.9% Henderson to Hollywood 2 Documentary 2 .0 2.0 308,230 8.0% Here To Stay ONE Documentary 3.0 3.0 3.0 299,520 7.8% Hidden in the Numbers ONE Documentary 3 .0 3.0 3.0 255,310 6.6% Hidden in the Numbers TVNZ 6 Documentary 3.0 3.0 n/a n/a Hone Tuwhare TVNZ 6 Documentary 1.0 1.0 n/a n/a Hunger for the Wild ONE Factual 6.5 6.5 6.5 2,071,800 53.7% In The Wake of the Rainbow Warrior ONE Documentary 1 .0 1.0 1.0 102,820 2.7% Invaders in Paradise TVNZ 6 Documentary 1.0 1.0 n/a n/a Kiwi - A Natural History TVNZ 6 Documentary 1.0 1.0 n/a n/a Kiwi Kitchen ONE Factual 1.0 1.0 1.0 131,910 3.4% Land of the Kiwi TVNZ 6 Documentary 1.0 1.0 n/a n/a Lovely Rita ONE Documentary 1.5 1 .5 3.0 3.0 499,040 12.8% Mai Time 2 Special Interest 12.0 2.5 14.5 707,380 18.3% Mai Time TVNZ 6 Special Interest 6.5 6.5 n/a n/a Marae ONE Special Interest 24.0 8 .0 32.0 826,840 21.4% Mataku TVNZ 6 Drama 13 .0 13.0 10.0 n/a n/a Montana World of Wearable Art ONE Arts 1.0 1 .0 2.0 95,850 2.5% Montana World of Wearable Art TVNZ 6 Arts 1 .0 1.0 n/a n/a Montana World of Wearable Art BackstagTVNZ 6 Arts 1.0 1.0 n/a n/a Mucking In ONE Factual 1.0 19 .0 20.0 20.0 1,718,770 44.5% Netball ONE Sport 30.8 - 30.8 2,694,260 69.9% NZ Goes To Chelsea ONE Documentary 2 .0 2.0 2.0 46,440 1.2% NZ Sanctuary Keepers TVNZ 6 Documentary 1.0 1.0 n/a n/a Piha Rescue ONE Factual 5.0 5.0 5.0 2,129,760 55.2% Pine or Pohutukawa ONE Documentary 1.0 1.0 1.0 37,720 1.0% Polyfest 2 Special Interest 1.0 1.0 69,430 1.8% Ride with the Devil 2 Drama 3.0 3.0 714,440 18.5% Scarfie Days 2 Factual 5.0 5.0 1,311,220 34.0% Sir Peter Blake ONE Documentary 1 .5 1.5 1.5 84,160 2.2% Tagata Pasifika ONE Special Interest 13.0 13 .5 26.5 1,634,870 42.4% Taonga TVNZ 6 Drama 1 3.0 13.0 10.0 n/a n/a Taste of Home ONE Factual 3.5 3.5 3.5 1,469,380 38.1% Taste of New Zealand ONE Factual 1.3 1.3 265,610 6.9% Te Karere ONE Special Interest 32.8 18.8 51.6 18.8 1,522,860 39.5% The Big Picture ONE Arts 6.0 - 6.0 6.0 910,170 23.5% The Big Picture TVNZ 6 Arts - 5 .0 5.0 n/a n/a The Brown Factor ONE Documentary 1.5 1.5 1.5 96,680 2.5% The Man Who Lost His Head ONE Drama 2.0 2.0 4.0 4.0 1,124,890 28.9% The World's Fastest Indian ONE Drama 2.3 2.3 2.3 645,430 16.7%
33 TVNZ Interim Report FY2008
This Is Your Life ONE Entertainment 1.5 1.5 1,027,350 26.6% Tiki Tiki ONE Special Interest - 4 .5 4.5 75,300 2.0% To Save The Kakapo TVNZ 6 Documentary 1.0 1.0 n/a n/a Waka Huia ONE Special Interest 26.0 - 26.0 660,620 17.1% Westfield Style Pasifika ONE Arts 2.0 - 2.0 223,550 5.8% Whanau ONE Special Interest 3.9 11 .6 15.5 15.5 1,480,220 38.4% Whanau TVNZ 6 Special Interest 7.8 7.8 5.2 n/a n/a Whatever Happened To? ONE Entertainment 8.0 8.0 8.0 1,910,020 49.5% Wild Horse, Wild Country TVNZ 6 Documentary 1.0 1.0 n/a n/a Young Farmer Contest ONE Factual 1.0 1.0 442,280 11.5% 233.9 1 88.1 422.0 161.3
Maori Eye to Eye ONE News & Current Affairs 7.0 7.0 414,960 10.8% Hone Tuwhare TVNZ 6 Documentary 1.0 1.0 n/a n/a Mai Time 2 Special Interest 12.0 2.5 14.5 707,380 18.3% Mai Time TVNZ 6 Special Interest 6.5 6.5 n/a n/a Marae ONE Special Interest 24.0 8 .0 32.0 826,840 21.4% Mataku TVNZ 6 Drama 13 .0 13.0 10.0 n/a n/a Taonga TVNZ 6 Drama 1 3.0 13.0 10.0 n/a n/a Te Karere ONE Special Interest 32.8 18.8 51.6 18.8 1,522,860 39.5% The Brown Factor ONE Documentary 1.5 1.5 1.5 96,680 2.5% The Man Who Lost His Head ONE Drama 2.0 2.0 4.0 4.0 1,124,890 28.9% Tiki Tiki ONE Special Interest - 4 .5 4.5 75,300 2.0% Waka Huia ONE Special Interest 26.0 - 26.0 660,620 17.1% Whanau ONE Special Interest 3.9 11 .6 15.5 15.5 1,480,220 38.4% Whanau TVNZ 6 Special Interest 7.8 7.8 5.2 n/a n/a 107.7 90 .2 197.9 65.0
Diversity 2007 New Zealand Sheep Dog Trials 200ONE Special Interest 3.0 - 3.0 295,130 7.7% 3 Tenors ONE Entertainment 2.0 2.0 134,370 3.5% Amazing Extraordinary Friends 2 Children's Drama 6.5 - 6.5 6.5 1,049,420 27.2% An Immigrant Nation TVNZ 6 Documentary 5.0 5.0 n/a n/a Angelina Ballerina TVNZ 6 Preschool 1 5.2 15.2 n/a n/a Artsville ONE Arts 13.0 1 .3 14.3 1,344,680 34.9% Asia Downunder ONE Special Interest 11.0 2 .5 13.5 13.5 775,160 20.1% Attitude ONE Special Interest 11.5 - 11.5 11.5 711,400 18.4% Being Billy Apple ONE Documentary 1.5 1 .5 3.0 3.0 389,660 10.1% Being Eve TVNZ 6 Children's Drama 5 .0 5.0 3.5 n/a n/a Big Experiment ONE Documentary - 4 .0 4.0 4.0 437,990 11.4% Bledisloe - Two Nations ONE Documentary - 1 .0 1.0 118,590 3.1% Blue's Clues 2 Preschool 5 3.8 53.8 53.8 1,157,240 30.0% Boblins TVNZ 6 Preschool 4.3 10 .9 15.2 n/a n/a Bumble TVNZ 6 Preschool 33 .4 33.4 n/a n/a Caillou TVNZ 6 Preschool 7.6 7.6 n/a n/a Cinema of Unease TVNZ 6 Documentary 2.0 2.0 n/a n/a Cold Water Warm Blood TVNZ 6 Documentary 1.0 1.0 n/a n/a Country Calendar ONE Factual 4.0 4.0 4.0 1,875,930 48.6% Country Calendar TVNZ 6 Factual 6.5 6.5 n/a n/a Eating Media Lunch 2 Comedy 9.0 9.0 9.0 1,421,000 36.8% Engie Bengy TVNZ 6 Preschool 4.3 10 .9 15.2 n/a n/a Eye to Eye ONE News & Current Affairs 7.0 7.0 414,960 10.8% Facelift ONE Comedy 5.0 - 5.0 1,273,760 33.0% Fraggle Rock TVNZ 6 Preschool 3 7.9 37.9 n/a n/a Freaky TVNZ 6 Children's Drama 5 .0 5.0 n/a n/a From Len Lye to Gollum ONE Documentary - 1 .0 1.0 1.0 148,820 3.9% Gallagher Great Race (Rowing) ONE Sport 1.0 - 1.0 108,510 2.8% George and Martha TVNZ 6 Preschool 10.8 28 .6 39.5 n/a n/a George Eliot, A Scandalous Life TVNZ 6 Documentary 1.0 1.0 n/a n/a Go Show 2 Preschool 12.8 111.3 124.1 124.1 1,650,760 42.8% Gormsby ONE Comedy - 2 .7 2.7 2.7 281,300 7.3% Grandma TVNZ 6 Documentary 1.0 1.0 n/a n/a Handy Manny 2 Preschool 10.4 5 .2 15.6 15.6 907,020 23.5% Haunting Douglas ONE Documentary - 0 .6 0.6 83,580 2.2% Heart of the North ONE Documentary 0.5 - 0.5 325,460 8.4% Henderson to Hollywood 2 Documentary 2 .0 2.0 308,230 8.0% Here to Stay ONE Documentary - 3 .0 3.0 3.0 299,520 7.8% Hi-5 2 Preschool 22.5 42 .5 65.0 65.0 1,017,030 26.4% Hidden in the Numbers ONE Documentary - 3 .0 3.0 3.0 255,310 6.6% Hidden in the Numbers TVNZ 6 Documentary 3.0 3.0 n/a n/a Hockey ONE Sport 3.8 - 3.8 303,800 7.9% Hone Tuwhare TVNZ 6 Documentary 1.0 1.0 n/a n/a How Art Made The World TVNZ 6 Documentary 5.0 5.0 5.0 n/a n/a Indonesian Art, Activism and Rock'n Roll TVNZ 6 Arts 0 .5 0.5 n/a n/a Invaders in Paradise TVNZ 6 Documentary 1.0 1.0 n/a n/a ITM Fishing Show ONE Sport 11.0 0 .5 11.5 1,107,550 28.7% Jo-Jo's Circus 2 Preschool 6.4 6.4 6.4 661,760 17.1% Karaoke High TVNZ 6 Children's Drama 1 3.0 13.0 11.0 n/a n/a Kidzone Shorts TVNZ 6 Preschool 20.8 22 .5 43.3 n/a n/a Killians Curse TVNZ 6 Children's Drama 1 .5 1.5 1.5 n/a n/a Lets Get Inventin 2 Children 7.5 7.5 15.0 15.0 1,663,290 43.1% Life of Ian ONE Documentary 1.5 1 .5 3.0 3.0 451,890 11.7% Little Einsteins 2 Preschool 5.6 11 .2 16.8 16.8 1,023,270 26.5% Love and Anarchy TVNZ 6 Arts 1 .0 1.0 n/a n/a Lovely Rita ONE Documentary 1.5 1 .5 3.0 3.0 499,040 12.8% Magic of Two TVNZ 6 Documentary 1.0 1.0 n/a n/a Mai Time 2 Special Interest 12.0 2.5 14.5 707,380 18.3% Mai Time TVNZ 6 Special Interest 6.5 6.5 n/a n/a Marae ONE Special Interest 24.0 8 .0 32.0 826,840 21.4%
34 TVNZ Interim Report FY2008
Mataku TVNZ 6 Drama 13 .0 13.0 10.0 n/a n/a Mercury Lane TVNZ 6 Arts 4 .0 4.0 n/a n/a Mirror Mirror TVNZ 6 Children's Drama 3 .5 3.5 n/a n/a Miss Spiders Sunny Patch Friends TVNZ 6 Preschool 17.9 20 .0 37.9 n/a n/a Montana World of Wearable Art ONE Arts 1.0 1 .0 2.0 95,850 2.5% Montana World of Wearable Art TVNZ 6 Arts 1 .0 1.0 n/a n/a Montana World of Wearable Art BackstagTVNZ 6 Arts 1.0 1.0 n/a n/a My God ONE Special Interest 5.0 - 5.0 453,190 11.8% NZ Sanctuary Keepers TVNZ 6 Documentary 1.0 1.0 n/a n/a Painting the Light in a Dark World TVNZ 6 Arts 0 .5 0.5 n/a n/a Party Animals TVNZ 6 Preschool 3 6.4 36.4 n/a n/a Playschool 2 Preschool 17 .5 17.5 568,250 14.7% Polyfest 2 Special Interest 1.0 1.0 69,430 1.8% Powerbuilt Motorsport ONE Sport 86.5 - 86.5 2,570,360 66.6% Praise Be ONE Special Interest 9.0 - 9.0 584,590 15.1% Puzzle Inc TVNZ 6 Preschool 7.6 7.6 n/a n/a Qantas Television Awards ONE Arts 1.5 - 1.5 655,740 17.0% QTV TVNZ 6 Children 3 .3 3.3 2.8 n/a n/a Ride with the Devil 2 Drama 3.0 3.0 714,440 18.5% Rural Delivery ONE Special Interest 13.0 - 13.0 607,130 15.7% Russia's Forgotten Children ONE Documentary 0.5 - 0.5 445,310 11.5% Sensing Murder 2 Entertainment 16.5 7 .5 24.0 24.0 2,718,920 70.5% Simon Schama Power of Art ONE Documentary 4.0 4.0 4.0 651,800 16.9% Studio 2 2 Children 57.0 - 57.0 1,891,120 49.0% Studio 2 Saturday 2 Children 23.0 - 23.0 1,083,090 28.1% Surf Club 174 2 Sport 0.5 0.5 99,230 2.6% Surf Club 174 TVNZ 6 Sport 0.5 0.5 n/a n/a Tagata Pasifika ONE Special Interest 13.0 13 .5 26.5 1,634,870 42.4% Taonga TVNZ 6 Drama 1 3.0 13.0 10.0 n/a n/a Tennis ONE Sport 5.0 - 5.0 337,140 8.6% The Adventures of Massey Ferguson TVNZ 6 Preschool 7.6 7.6 n/a n/a The Big Picture ONE Arts 6.0 - 6.0 6.0 910,170 23.5% The Big Picture TVNZ 6 Arts - 5 .0 5.0 n/a n/a The Book Show ONE Arts 3.0 2 .0 5.0 313,830 8.1% The Book Show TVNZ 6 Arts 5 .0 5.0 3.5 n/a n/a The Boy From Andromeda TVNZ 6 Children's Drama 3 .0 3.0 n/a n/a The Dress Up Box TVNZ 6 Preschool 7.6 7.6 n/a n/a The Gravy TVNZ 6 Arts 6.5 6 .5 13.0 n/a n/a The Living Room TVNZ 6 Arts 5 .0 5.0 n/a n/a The Nutcracker ONE Arts - 1 .5 1.5 1.5 104,490 2.7% The Outlook 2 Special Interest 4.5 4.5 697,380 18.1% The Private Life of a Masterpiece TVNZ 6 Documentary 8.0 8.0 n/a n/a The Real Jane Austen TVNZ 6 Documentary 1.0 1.0 n/a n/a Tiki Tiki ONE Special Interest - 4 .5 4.5 75,300 2.0% To Save The Kakapo TVNZ 6 Documentary 1.0 1.0 n/a n/a Waka Huia ONE Special Interest 26.0 - 26.0 660,620 17.1% Westfield Style Pasifika ONE Arts 2.0 - 2.0 223,550 5.8% Whanau ONE Special Interest 3.9 11 .6 15.5 15.5 1,480,220 38.4% Whanau TVNZ 6 Special Interest 7.8 7.8 5.2 n/a n/a What Now Sundays 2 Children 42.0 - 42.0 1,345,200 34.9% Wild Horse, Wild Country TVNZ 6 Documentary 1.0 1.0 n/a n/a Wrestling with the Angels TVNZ 6 Documentary 1.0 1.0 n/a n/a You and Me TVNZ 6 Preschool 3 7.9 37.9 n/a n/a Young Farmer Contest ONE Factual 1.0 1.0 442,280 11.5% 589.2 7 53.6 1,342.8 467.4
NZ Talent Amazing Extraordinary Friends 2 Children's Drama 6.5 6.5 6.5 1,049,420 27.2% Artsville ONE Arts 13.0 1 .3 14.3 1,344,680 34.9% Being Billy Apple ONE Documentary 1.5 1 .5 3.0 3.0 389,660 10.1% Being Eve TVNZ 6 Children's Drama 5 .0 5.0 3.5 n/a n/a City Life TVNZ 6 Drama 25 .0 25.0 n/a n/a Clare TVNZ 6 Drama 2.0 2.0 n/a n/a Cover Story TVNZ 6 Drama 25 .0 25.0 n/a n/a Duggan TVNZ 6 Drama 4.0 4.0 n/a n/a Eating Media Lunch 2 Comedy 9.0 9.0 9.0 1,421,000 36.8% Ellerslie Flower Show ONE Factual 1.0 1.0 43,380 1.1% End of the Golden Weather TVNZ 6 Drama 2.0 2.0 n/a n/a Facelift ONE Comedy 5.0 - 5.0 1,273,760 33.0% Flight of the Albatross TVNZ 6 Drama 2 .0 2.0 n/a n/a Freaky TVNZ 6 Children's Drama 5 .0 5.0 n/a n/a From Len Lye to Gollum ONE Documentary - 1 .0 1.0 1.0 148,820 3.9% Gladiator ONE Documentary - 1 .0 1.0 90,070 2.3% Gormsby ONE Comedy - 2 .7 2.7 2.7 281,300 7.3% Haunting Douglas ONE Documentary - 0 .6 0.6 83,580 2.2% Heart of the North ONE Documentary 0.5 - 0.5 325,460 8.4% Henderson to Hollywood 2 Documentary 2 .0 2.0 308,230 8.0% Highway of Legends TVNZ 6 Documentary 1.0 1.0 n/a n/a Hone Tuwhare TVNZ 6 Documentary 1.0 1.0 n/a n/a Insiders Guide 2 Drama - 0 .2 0.2 0.2 90,040 2.3% Jubilee TVNZ 6 Drama 2 .0 2.0 n/a n/a Karaoke High TVNZ 6 Children's Drama 1 3.0 13.0 11.0 n/a n/a Killians Curse TVNZ 6 Children's Drama 1 .5 1.5 1.5 n/a n/a Life of Ian ONE Documentary 1.5 1 .5 3.0 3.0 451,890 11.7% Lovely Rita ONE Documentary 1.5 1 .5 3.0 3.0 499,040 12.8% Market Forces TVNZ 6 Comedy 3 .5 3.5 n/a n/a Mataku TVNZ 6 Drama 13 .0 13.0 10.0 n/a n/a Mercury Lane TVNZ 6 Arts 4 .0 4.0 n/a n/a Mercy Peak TVNZ 6 Drama 25 .0 25.0 18.0 n/a n/a
35 TVNZ Interim Report FY2008
Mirror Mirror TVNZ 6 Children's Drama 3 .5 3.5 n/a n/a Montana World of Wearable Art ONE Arts 1.0 1 .0 2.0 95,850 2.5% Montana World of Wearable Art TVNZ 6 Arts 1 .0 1.0 n/a n/a Montana World of Wearable Art BackstagTVNZ 6 Arts 1.0 1.0 n/a n/a Motorcycles and Mountaineers Legs ONE Documentary 0.5 - 0.5 415,870 10.8% NZ Goes to Chelsea ONE Documentary - 2 .0 2.0 2.0 46,440 1.2% Orange Roughies TVNZ 6 Drama 2 5.0 25.0 11.0 n/a n/a Pop's Ultimate Star 2 Entertainment 6.0 6.5 12.5 1,601,180 41.5% Qantas Television Awards ONE Arts 1.5 1.5 655,740 17.0% Ride with the Devil 2 Drama 3.0 - 3.0 714,440 18.5% Serial Killers ONE Comedy - 2 .3 2.3 2.3 274,780 7.1% Shortland Street 2 Drama 64.5 1 16.5 181.0 181.0 3,227,860 83.7% Shortland Street TVNZ 6 Drama 2 7.5 27.5 20.5 n/a n/a Sir Peter Blake ONE Documentary - 1 .5 1.5 1.5 84,160 2.2% Skin & Bone ONE Drama - 0 .4 0.4 0.4 223,970 5.8% Stage Challenge 2 Special Interest 3.0 3.0 373,910 9.7% Taonga TVNZ 6 Drama 1 3.0 13.0 10.0 n/a n/a The Big Picture ONE Arts 6.0 - 6.0 6.0 910,170 23.5% The Big Picture TVNZ 6 Arts 5 .0 5.0 n/a n/a The Boy From Andromeda TVNZ 6 Children's Drama 3 .0 3.0 n/a n/a The Gravy TVNZ 6 Arts 6.5 6 .5 13.0 n/a n/a The Living Room TVNZ 6 Arts 5 .0 5.0 n/a n/a The Locals 2 Drama 0.8 0 .5 1.3 1.3 221,240 5.7% The Man Who Lost His Head ONE Drama 2.0 2 .0 4.0 4.0 1,124,890 28.9% The Nutcracker ONE Arts - 1 .5 1.5 1.5 104,490 2.7% Tutu's and Town Halls TVNZ 6 Documentary 2.0 2.0 n/a n/a Typhon's People TVNZ 6 Drama 4.0 4.0 n/a n/a Waka Huia ONE Special Interest 26.0 26.0 660,620 17.1% Westfield Style Pasifika ONE Arts 2.0 2.0 223,550 5.8% Whanau ONE Special Interest 3.9 11 .6 15.5 15.5 1,480,220 38.4% Whanau TVNZ 6 Special Interest 7.8 7.8 5.2 n/a n/a What Becomes of the Broken Hearted TVNZ 6 Drama 2.0 2.0 n/a n/a Whistleblowers ONE Documentary - 1 .0 1.0 120,420 3.1% World's Fastest Indian ONE Drama - 2 .3 2.3 2.3 645,430 16.7% Wrestling with the Angels TVNZ 6 Documentary 1.0 1.0 n/a n/a Zoe Bell - Stunt Star ONE Documentary 0.5 0 .5 1.0 134,630 3.5% 166.7 4 04.1 570.7 336.9
Innovation
Being Billy Apple ONE Documentary 1.5 1 .5 3.0 3.0 389,660 10.1% Eating Media Lunch 2 Comedy 9.0 9.0 9.0 1,421,000 36.8% Karaoke High TVNZ.CO.NZ Children's Drama 6 .5 6.5 n/a n/a Lets Get Inventin 2 Children 7.5 7.5 15.0 7.5 1,663,290 43.1% Life of Ian ONE Documentary 1.5 1 .5 3.0 3.0 451,890 11.7% Lovely Rita ONE Documentary 1.5 1 .5 3.0 3.0 499,040 12.8% Meet The Locals TVNZ 6 Factual 4.0 34.3 38.3 n/a n/a Ride with the Devil 2 Drama 3.0 3.0 714,440 18.5% The Big Picture ONE Arts 6.0 6.0 6.0 910,170 23.5% The Gravy TVNZ 6 Arts 6.5 6.5 n/a n/a 40.5 52.8 93.3 31.5
High Standards
The description of the output measure for programmes exhibiting High Standards is: hours of local shows/films TVNZ has funded/co-funded or commissioned.
Because this category includes titles that are yet to be screened, and are therefore still commercially sensitive, only the total for the period is given. The total count is 471.8 hours.
TVNZ’s reach and output is significant and demonstrates not only the quantity but the breadth of programmes – across a variety of genres – that educate, inform and entertain New Zealanders on a daily basis. This is unmatched by any other television broadcaster in New Zealand.
36 TVNZ Interim Report FY2008
TVNZ BOARD AND MANAGEMENT DIRECTORY
TVNZ BOARD
Chairman Sir John Anderson
Deputy Chairman Robert Fenwick
Board members Anne Blackburn
Bryan Gould
John Goulter
June McCabe
Phillip Melchior
TVNZ MANAGEMENT
Chief Executive Officer Rick Ellis
Chief Financial Officer Rodney Parker
Head of Broadcast Services Helen Clifton
Head of Sales Dave Walker
Head of Human Resources Diane O’Brien
Head of Corporate Affairs Peter Parussini
Head of Television Jeff Latch
Head of Marketing / Head of Emerging Business Jason Paris
37