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Nippon Television Holdings (9404) · RiskWorsened

Declining Value of Terrestrial Television Advertising Due to the Spread of Digital Media

First written in FY2016. 7 of 9 entries say "Worsened", first in FY2020. Latest entry: FY2026.

9entries
11years
1from disclosures
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How it moved
ProgressHeldSoftenedWorseFirst statedFY2016 – FY2017WorsenedFY2020 – FY20262016: 120162017: 120172018: 020182019: 020192020: 120202021: 120212022: 120222023: 020232024: 120242025: 120252026: 22026
Same theme, other companies
Expansion of Competing Media in the Broadcasting BusinessA theme 4 companies write about · 4 as a headwind · 0 as a tailwind

Nippon Television Holdings moved to the "Worse" side of this theme in 2020.

0 other companies' latest entry also says "Worsened".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. FY2026WorsenedAnnual report

    「Internet advertising spend remained strong at ¥4.0459 trillion (+10.8%), of which advertising spend on internet video distribution led by television media broadcasters, including catch-up and real-time streaming services for television programmes, namely television media-related video advertising spend, continued to grow substantially to ¥80.5 billion (+23.3%).」

    Internet advertising spend expanded to ¥4.0459 trillion, further widening the gap with terrestrial television advertising spend of ¥1.6333 trillion.
  2. 2026-05-14WorsenedEarnings

    「Of this amount, terrestrial television advertising expenditure was ¥1.6333 trillion, down 0.1%. Internet advertising expenditure continued to perform strongly, rising 10.8% to ¥4.0459 trillion. Within this, expenditure on “television media-related video advertising,” meaning advertising expenditure for online video distribution led by television media broadcasters, including catch-up and real-time streaming of television programs, rose sharply by 23.3% to ¥80.5 billion.」

    The disclosure describes the 2025 advertising market, in which internet advertising expenditure substantially exceeded terrestrial television advertising expenditure, and the growth of television media-related video advertising.
  3. FY2025WorsenedAnnual report

    「Internet advertising spend remained strong at ¥3.6517 trillion (+9.6%), of which advertising spend on internet video distribution led by television media broadcasters, including catch-up and real-time streaming services for television programmes, namely television media-related video advertising spend, continued to grow substantially to ¥65.3 billion (+47.4%).」

    Internet advertising spend continued to substantially exceed terrestrial television advertising spend, while television-related video advertising also grew.
  4. FY2024WorsenedAnnual report

    「Internet advertising spend continued to grow under these conditions, reaching 107.8% of the previous year, and we recognise that maintaining and securing the absolute advantage that terrestrial television broadcasting has historically held in advertising value is a challenge.」

    In 2023, internet advertising spend reached ¥3.3330 trillion, compared with ¥1.6095 trillion for terrestrial television advertising, further demonstrating the relative advantage of digital advertising.
  5. FY2022WorsenedAnnual report

    「Internet advertising spend continued to grow under these conditions, reaching 121.4% of the previous year, and we recognise that maintaining and securing the absolute advantage that terrestrial television broadcasting has historically held in advertising value is a challenge.」

    Internet advertising spend reached ¥2.7052 trillion, compared with ¥1.7184 trillion for terrestrial television advertising, further quantifying the relative advantage of digital advertising.
  6. FY2021WorsenedAnnual report

    「Of this amount, terrestrial television advertising spend was ¥1.5386 trillion, or 88.7% of the previous year, while internet advertising spend, supported by the acceleration of society's digitalisation, reached ¥2.2290 trillion, or 105.9%.」

    Internet advertising spend continued to exceed terrestrial television advertising spend, demonstrating the risk of a relative decline in the value of terrestrial television advertising through specific market data.
  7. FY2020WorsenedAnnual report

    「Japan's total advertising spend in 2019 exceeded the previous year's result for the eighth consecutive year, reaching ¥6.9381 trillion. Of this amount, terrestrial television advertising spend was ¥1.7345 trillion, or 97.2% of the previous year, while internet advertising spend, which had achieved double-digit growth for 6 consecutive years, exceeded television media advertising spend for the first time.」

    Internet advertising spend exceeded television media advertising spend for the first time, while terrestrial television advertising spend fell 2.8% year on year.
  8. FY2017RestatedAnnual report

    「At the same time, the diversification of these media may reduce viewing time for terrestrial broadcasting and consequently lower its advertising value.」

    The risk that the spread and diversification of digital media will reduce viewing time for terrestrial television and its advertising value is reiterated.
  9. FY2016First statedAnnual report

    「The spread of such digital media is attracting the interest of many people and gradually increasing their advertising value. At the same time, the diversification of these media may reduce viewing time for terrestrial broadcasting and consequently lower its advertising value.」

    The downside risk that the spread of the internet, smartphones and tablets could reduce viewing time for terrestrial television and its advertising value is identified.
Moved together

"Competition and Investment Recovery Risks in the Sports Club Business" moved the same way as this thread, in the same document, in 5 of its 9 moves.

555332★123456
  1. ★This thread
  2. 1Competition and Investment Recovery Risks in the Sports Club Business5×
  3. 2Risk of impairment of fixed assets5×
  4. 3Risks Relating to Securities Held Due to Investee Company Performance and Market Trends5×
  5. 4A Company That Provides Enriching Moments: First-Choice NTV3×
  6. 5Soaring Sports Event Broadcasting Rights Fees3×
  7. 6Business foundation centered on terrestrial broadcasting reach and content-production capabilities2×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
Nippon Television Holdings's next results are scheduled for 2026-11-05. Read the earnings preview It last moved in the Earnings of 2026-05-14: "Worsened".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Declining Value of Terrestrial Television Advertising Due to the Spread of Digital Media | Nippon Television Holdings,Inc. (9404) | Komori