A $6 million lifeline is expected to be thrown to local broadcasters through new legislation that will repeal all advertising restrictions on Sundays and public holidays.
The previously signalled legislation was introduced to Parliament earlier today by Media Minister Paul Goldsmith amid ongoing media industry turmoil.
The Broadcasting Act currently prohibits TV ads on Sunday and Anzac Day mornings – between 6am and noon. Meanwhile, both TV and radio broadcast advertising are prohibited entirely on Christmas Day, Good Friday, and Easter Sunday.
Goldsmith said: “Traditional media outlets are operating in an extremely difficult environment and as the Government, we must ensure regulatory settings are enabling the best chance of success.
“This change could generate approximately $6 million for the industry and any lost opportunities for revenue are significant in the current tight financial context.
The Justice and Media Minister talks to Q+A’s Jack Tame, eight months after the coalition government was elected. (Source: 1News)
“These restrictions are no longer aligned with the ways in which audiences consume content. As technology and audiences continue to move away from traditional linear broadcasting, the restrictions are increasingly redundant.
“This will level the playing field by ensuring local media companies are not disadvantaged by restricted advertising times that don’t apply to digital streaming platforms.”
The “extremely difficult” environment for media companies has led to hundreds of job losses this year at TVNZ and TV3-owner Warner Brothers Discovery.
Major radio broadcasters NZME and MediaWorks have also faced job cuts.
