A stronger performance by its radio and TV production activities in the fourth quarter failed to compensate a decline in advertising activities over the course of the year for Lagardère Active, the media arm of the French conglomerate.
Audiovisual production revenues grew by 8.8% in the fourth quarter, boosted by the delivery of series Le Transporteur, season two of Borgia and Jo with Jean Reno. While Lagardère Active’s radio interests saw growth of 7.5% in the fourth quarter, its TV channels managed only to achieve stable year-on-year revenues, with subscription growth compensating for advertising decline.
For the full year, Lagardère Active’s revenues dropped 3.9% on a like-for-like basis to €1.014 billion, with advertising dropping by 5.9%, mostly due to a decline in magazine advertising. Overall TV activities – channels and production combined – saw growth of 0.7%.