NZME (ASX:NZM, NZE:NZM) has lowered its earnings before interest, taxes, depreciation, and amortization (EBITDA) outlook for the year, due to delayed economic recovery, according to a Monday filing with the Australian bourse.

The company expects EBITDA to fall within a range of AU$53 million to AU$55 million, the filing said.

In August, NZME had forecast EBITDA growth at the lower end of the previously issued range of AU$57 million to AU$61 million, the filing added.

NZME's advertising revenue for the third quarter was 1% lower than last year, missing the company's earlier estimate of 1% year-on-year advertising revenue growth, as per the filing.

The media company followed up on a Tuesday bourse filing that it expects advertising revenue for the fourth quarter to grow by around 5% year-on-year.