With streaming giants like Netflix now commanding a key space in the Australian broadcasting space, commercial broadcasters have, of late, tried to rein in costs.
But despite the corporate penny-pinching, Australia’s top television personalities continue to secure million-dollar deals to front their biggest shows – at least that’s according to The Australian.
The high pay has long been the networks’ way of protecting valuable talent from rivals eager to poach stars in the battle for viewers and advertising dollars.
The changing economics of TV talent
According to Steve Jackson in The Australian, while the ABC has kept quiet about salaries of its highest-paid staff (we’re talking more than 150 people earning more than $250,000) commercial networks haven’t been quite as secretive.
A new television ‘Rich List’ compiled by the publication highlights how news and breakfast show hosts dominate the highest-paid ranks.
While the Nine Network remains the most generous, the gulf between male and female salaries remains wide, despite increased attention on pay equity.
So, just who makes up the million dollar media club?
Karl Stefanovic (Nine) – $2.8m
Scott Cam (Nine) – $2.4m
Hamish Blake (Nine) – $2.0m
Larry Emdur (Seven) – $1.6m
Natalie Barr (Seven) – $1.3m
Allison Langdon (Nine) – $1.2m
Sonia Kruger (Seven) – $1.2m
Kylie Gillies (Seven) – $1.1m
Peter Overton (Nine) – $1.0m
Top earners and the gender pay gap
According to the list, Karl Stefanovic, host of Nine’s Today show, remains Australia’s highest-paid TV personality, with a reported $2.8 million annual contract.
His pay dwarfs that of his co-host Sarah Abo, who earns less than a third of his salary with $800k. Stefanovic’s lucrative deal dates back to a multimillion-dollar contract negotiated in 2015 by then-Nine CEO David Gyngell, which also included a short-lived panel show, The Verdict.
At Seven, Natalie Barr has reportedly become the highest-paid female TV host after transitioning from newsreader to Sunrise host.
Another notable figure is Nine’s Georgie Gardner, who is said to earn $600,000 annually for weekend newsreading in Sydney, a figure stemming from her one-year tenure as Today co-host. Gardner’s contract is up for renewal next year, leaving her future earnings uncertain.
Cost pressures lead to pay reviews
According to the publication, senior executives have acknowledged that commercial broadcasters face increasing pressure to cut wage bills amid declining ad revenue.
Meanwhile back at Nine, sources reveal to Jackson that every top talent contract is currently under review, with pay cuts likely for many, with the pressure to cut costs compounded by a new generation of presenters seeking to replace established names.
The network’s director of television Michael Healy has struggled to retain top talent amid budget constraints. Liz Hayes, Tracy Grimshaw, and Tara Brown, longtime network staples, have seen their on-air roles and contracts trimmed.
Hayes left the network earlier this year after 44 years, following the cancellation of her true crime series.
Despite these cutbacks, insiders note top TV personalities still have strong earning potential beyond network contracts.