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Telecinco profits and revenues crash as recession woes continue

Telecinco has suffered a sharp decline in revenues as the advertising recession continues to impact its business. The Spanish free-to-air broadcaster posted revenues of €432.5m for the first nine months of 2009, a 41.2% decrease year-on-year. Pre-tax profit fell 80%, taking the total to €58.5m.

The Mediaset-backed broadcaster recorded an average audience share of 15% in the year to end-September, behind its two major competitors Antena 3 and TVE-1, which recorded shares of 15.1% and 16.4% respectively. Its two new digital channels, La Siete and Factoria de Ficcion, notched shares of 0.8% and 0.5%.

Operating costs were slashed by 14.8% across the period. The company is carrying a debt load of €176.9m, €59.9m, of which is a loan from Mediaset.

Antena 3 also reported nine month and quarterly results on October 29. It posted revenues of €496.3, a 21% decline and profit of €18.9m, compared with €71.3m a year earlier. It cut costs by 6%, taking the total to €460.7m.