‘The public deserve free TV’: Stokes reflects on nearly 50 years
Australia’s last media mogul, Kerry Stokes, is stepping down from his leadership role but vows to continue battling for free television access. At 85, Stokes chaired his final AGM for Seven West Media before his planned departure early next year.
Criticism of Streaming Services
During his last annual general meeting, Stokes took aim at Netflix and other streaming platforms, criticizing their tax practices. He stated:
“They’ve taken out last year some $6 billion in revenue. They take the advertising and there’s no tax on it. And these people will go on until there’s nothing left.”
Future and Industry Challenges
Although preparing to step back from day-to-day duties from February, coinciding with Seven's merger with the radio group behind Triple M and Hit Networks, Stokes emphasized the need for industry protection:
“The whole industry needs some protection.”
From Humble Beginnings to Media Powerhouse
With the retirements of Kerry Packer and Rupert Murdoch, Stokes is often labeled the last mogul in Australian media. His journey from a poor, dyslexic TV aerial installer to a billionaire network owner spans nearly five decades since he first invested in Seven.
On his success, he humbly admitted, “Oh, um, I got lucky.”
Commitment to Quality Broadcasting
Despite challenges, Stokes remains motivated by the positive impact of his work, saying:
“I love the fact that regardless of the headaches, we produce for the Australian public quality news, quality sports coverage and good entertainment.”
Author's summary: Kerry Stokes, after almost 50 years in media, steps back but stays committed to defending free Australian TV and quality local content amid rising streaming competition.
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