Highlights

  • Consensus rating of Buy from 8 analysts: 4 Buy or equivalent, 4 Hold, 0 Sell or equivalent.
  • Mean price target of A$1.16 against a share price of A$0.66 on 8 October 2026, an implied upside of 77.5%.
  • Analyst targets range from A$0.79 to A$1.40.
  • The agreement covers all Australian streaming and broadcast rights, subscription and free, for the competition, which runs across 38 match weeks with 10 matches per week.

Nine Entertainment (ASX:NEC) carries a consensus analyst rating of Buy. Of the 8 analyst recommendations recorded, 4 are Buy or equivalent, 4 are Hold and 0 are Sell or equivalent. The mean price target is A$1.16, with targets ranging from A$0.79 to A$1.40, against a current share price of A$0.66 (8 October 2026). Nine Entertainment Co. Holdings Limited is an Australian media company that owns television, streaming and publishing businesses, including the Stan streaming service.

Company name

Nine Entertainment

Ticker

(ASX:NEC)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$0.66

Price date

8 October 2026

Number of analysts

8

Rating consensus

Buy

Consensus price target (mean)

A$1.16

Highest target

A$1.40

Lowest target

A$0.79

Implied upside/downside to mean target

Implied upside of 77.5%

Latest developments

Nine Entertainment (ASX:NEC) announced on 10 September 2026 an extension of its Australian streaming and broadcast rights agreement for the Premier League for the 2028-29 to 2033-34 seasons, a period of six years. The agreement covers all Australian streaming and broadcast rights, subscription and free, for the competition, which runs across 38 match weeks with 10 matches per week.

Nine said the product is intended to be primarily available on Stan, with the company using its other broadcast, media and outdoor Assets to promote the sport. The FY29 rights fee will be broadly in line with FY28 before scaling through the six-year period, equating to a compound annual growth rate of about 3% across the contract. The absence of the Optus contributions payable since Nine acquired the rights from Optus in 2025 will increase the cost to Stan, which Nine expects to be covered by removal of the subscription discount for legacy Optus subscribers and other cost-saving and Revenue initiatives.

The company said Stan's EBITDA has more than doubled from $40 million in FY21 to $81 million in FY26, and that the Premier League has been a key part of 50% growth in average Sport subscribers over the past 12 months.

Risks and what to watch

Rights fees will rise over the six-year term at about 3% a year, and the increased cost from the end of Optus contributions is expected to be offset by subscription pricing and other initiatives, which depend on subscriber behaviour. The agreement starts in the 2028-29 season, so the financial effect is some time away. Streaming sport Earnings depend on subscriber growth, pricing and competition.

Next milestones

Items to watch include Stan Sport subscriber trends, the removal of the legacy Optus subscription discount, FY27 and FY28 rights costs ahead of the new agreement, and any further sports rights announcements.