Ten chairman David Gordon has called for urgent reform to free-to-air media regulation to level the playing field with international competitors.
Speaking to shareholders at the company's annual general meeting today, Gordon said the current rules put Australian free-to-air networks at a competitive disadvantage with the global online giants.
"We are now fighting for advertising revenue in this market," he said.
"We appreciate that the government is consulting on the best way to enact reform but the Australian media industry needs the rules changed urgently and as a priority in early 2016.
He said that each day that passed was another day that free-to-air networks were hamstrung from innovating and competing more effectively in a very dynamic market.
"All we are looking for is a level playing field with international competitors.
"The free-to-air television industry in Australia is subject to regulation that has been in need of change for some time.
"It was drawn up in a different era and focused on the regulation of industries and technologies that existed 40 years ago. It now acts to limit and constrain Australian free-to air networks, while international competitors and other domestic players face no such regulation."
The government has delayed making changes media ownership laws until early 2016.
Ten recorded a full year 2015 loss of $312 million in 2015."
Gordon said Ten had consistently argued for the removal of all ownership and control restrictions, so as to free us to better compete in the marketplace.
"The ownership and control provisions in the Broadcasting Services Act are outdated, ineffective and only apply to three types of media platforms: terrestrial TV, terrestrial radio and printed newspapers.
"We are hopeful that next year will finally see the removal of both the two out of three rule and the 75 per cent reach rule, and not a piecemeal tinkering that would only create a new set of distortions and continue to impede our ability to compete.
He said allowing some companies the opportunity to pursue consolidation while continuing to restrain others would exacerbate the damaging impact of the remaining rules.
"In addition, we advocate that reform of media ownership regulations must be accompanied by a reduction in the licence fees our industry pays to the government," he said.
"Despite our relatively small population, Australia’s licence fee regime remains by far the most punitive in the world and many times higher than free-to-air broadcasters pay in much larger markets such as the UK and the US.
"Perversely, we are competing against large and well-funded online competitors that pay no licence fees, and many that pay little or no tax in Australia.
"We pay licence fees to government of 4.5 per cent of our revenue. That is on top of normal corporate taxes and meeting the enormous cost of regulation, including the Australian content obligations.
"The costs associated with meeting those Australian content obligations continue to rise and, at the same time, it is becoming harder to monetise that content due to audience fragmentation."