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Canal+ España moves deeper into the red

Canal+ España has posted a net loss of €207 million, triple the losses of €71.3 million recorded in 2013, thanks to a loss in subscribers and higher football costs. The company reported EBITDA of €23.6 million, down from €28 million. 

Cost-cutting measures elsewhere at the operator failed to offset these factors. Canal+ operating company DTS has cut 100 staff over the last year and reduced staff costs.

The operator kept its revenues on an even keel thanks to the sale of content to other operators, offsetting a 4.2% fall in subscribers to about one and a half million.

Canal+’s owners are currently awaiting approval for the sale of the company, with conditions, to Telefónica.