Telecinco has recorded a 36% year-on-year decline in first quarter revenue of 159.7m.
The Mediaset-backed Spanish free-to-air broadcaster saw its operating profit tumble 64% in the same period, taking the total to Â29.3m. The depressed TV advertising market, audience fragmentation and decline in viewing share all contributed to the first quarter results. Analysts cited cost cutting measures, which it said were proving effective. Operating costs fell over 11% to Â116m. One bright note is the upcoming introduction of legislation that will limit public broadcaster TVEÂs ad minutage, removing one of TelecincoÂs key competitors from the ad market.
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27 January 2021 @ 18:24:00 UTC