New shows includePooch Perfect,Holy Moley,Plate of Origin and a revampedBig Brother,which will accompany the AFL and the Tokyo 2020 Olympics.
"We've taken cost out,we've completely reset the content,"Mr Warburton said."A lot of the new content doesn't launch until late April and so share is under pressure in that early part of the year. If things fire,that could help us in the back half of the year."
His comments come after the television and publishing company posted a $67 million loss for the December half and a further $20 million worth of cost outs,as the weak advertising market hit the company's bottom line.
Shares fell by more than 20 cent after the media group posted a 3 per cent fall in revenue to $772.4 million. Nine Entertainment Co,owner ofThe Sydney Morning HeraldandThe Age, fell 5 per cent to $1.74 following Seven's results,while outdoor advertising company oOh! Media fell by 6 per cent to $2.93.
"It's that balancing act of transforming,investing in content and at the same time ... primary revenue source is declining ... so that's really been the focus and led to the revised guidance,"Mr Warburton said.
Excluding significant items,which included a write-down of its television licence and"onerous"content contracts including with cricket,Seven West Media posted a profit of $98.2 million.
Underlying earnings before interest,tax,depreciation and amortisation fell by 20.8 per cent year on year to $136.6 million while net debt sits at $541.5 million,including proceeds from the $28 million sale of Redwave.