Polish broadcast group TVN reported “softer audience share” in the second quarter, which it attributed to public TV airing the World Cup and an expanded reach and channel offering of DTT.
For the three months ended June 30, TVN said that the all-day audience share in the commercial target group for its channels portfolio declined year-on-year to 21.9%, as a result of “weak audience reception” to part of the main channel schedule.
TVN reported a 0.5% decline in revenue to PLN434 million (€104 million), driven in part by a 1.1% sales decrease in TV airtime, a sponsorship decline of 7.4% and “continued softening of carriage fees.”
In spite of this, adjusted EBITDA improved by PLN4 million year-on-year to PLN175 million in the second quarter. Net profit was PLN 114 million in the second quarter and PLN 124 million in the first half of the year.
”TVN Group top line in the second quarter reflects mainly the impact of softer audience share performance in an environment where public TV aired the main sport event this year, while fully expanded reach and channel offering of Digital Terrestrial Television still enjoyed a novelty factor,” said TVN CEO Markus Tellenbach.
“Nevertheless, our continued margin focus delivered sound EBITDA above 40% with even stronger improvements in the bottom line. We have also drawn conclusions from the reception of our spring schedule and introduced significant changes in programming for autumn, which is envisioned to be a stronger season for TVN.
“As of today, current trading indicates third quarter TVN Group advertising related revenues can already be expected to grow at a pace of high single digit.”
TVN’s associated pay TV business nc+ reported 2.2 million post-paid subscribers at the end of June, with a monthly ARPU of PLN 67.6 and revenues of PLN 1,072 million in the first half of the year.
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