Nine Entertainment shares have tumbled 20 per cent after the television network blamed the standard of West Indian cricket and Australia's weather for its disappointing ratings and falling advertising sales.

In a trading update, Nine said its third quarter revenue was down 11 per cent compared to the same period in the previous year, while its ratings were softer than anticipated.

"In particular, Nine's Summer of Cricket was adversely impacted both by the weather and the standard of the competition," Nine noted sourly in a statement to the ASX.

Nine told investors the free-to-air (FTA) advertising market was expected to record a low single digit fall for the 2016 financial year, compared to its earlier guidance of "flat to down marginally".

The cricket collapse has flowed through to other programming disasters on the network and had given the edge to its FTA competitors.

Nine told investors its Summer of Cricket was "adversely impacted" by the standard of competition. ( Getty Images: Cameron Spencer )

Nine said its disappointing ratings start to 2016 meant its market share would drop back to around 37 per cent, from the 38.2 per cent reported in the first half.

Highly-promoted Reno Rumble has been dropped down the order from its primetime slot, having garnered fewer than 400,000 viewers compared to the 1.46 million watching Seven's My Kitchen Rules.

Nine's other response, in the time honoured way of dealing with poor-performing cricket, was to get out the knife.

"Given the revenue environment, the company continues to focus on all cost lines, with reported TV costs expected to be at least 4 per cent lower across the year, notwithstanding higher-than-expected legal expenses incurred during the second half," Nine said.

Shares fall about 50pc over year

It is not only viewers who have bailed on Nine.

Investors clearly did not like what they saw, at stumps Nine's shared were down 24 per cent - or 36 cents - to $1.16.

That is a fall of about 50 per cent over the year.

And just like sodden Sydney test this year, investors who bought into the Nine float at $2 a share back in December 2013, find themselves deeply under water.

Nine could perhaps take heart from the West Indian cricketers who this week bounced back from a disappointing summer to be crowned T20 world champions, albeit on pay TV.