afr: ten undervalued says morgan stanley, page-10

TV networks prepare for the 2013 ratings battle
Mid-October is gearing up to be a crucial one for Australia’s commercial free to air networks as they unveil their programming plans for 2013.
The networks will hold a series of events as they aim to persuade advertisers and media agencies of the strength of local and overseas content.
Although presentations are generally also given in Melbourne and other metro markets, Sydney tends to attract the largest industry audiences for the events.
Unlike last year, when Ten was first to give its presentation to the market, this time round Seven will be first mover, with an event to be held in Sydney on Tuesday October 16.
The following week heats up with Ten giving a breakfast presentation in Sydney on Tuesday October 23, with Nine’s integrated offering Powered holding its event that afternoon.
SBS will be holding its 2013 presentation later that week, on Thursday October 25.
Meanwhile, Multi Channel Networks, the sales house for pay TV operator Foxtel, will stage its event in November.
ABC Television, which can afford to wait longer because its main audience is the prees as it does not need to win over advertisers, will make its announcements towards the end of November. Mumbrella understands there will not be an event to accompany it this year.
The ratings battle for 2012 is delicately poised, with no clear winner yet to emerge between Nine and Seven in the battle for overall audience. The two networks are also close in the key advertising demographic of 25-54. Meanwhile, Ten is aiming to improve its share by fast-tracking overseas programming in the coming weeks after several local shows failed to rate well. Although Ten is still ahead of ABC1 in its key youth demographics, it has fallen behind in all people share.