Italian broadcaster Mediaset returned to the black last year, posting a net profit of €90.5 million – up from a loss of €294.5 million last year – on revenues of €3.631 billion, down from €3.667 billion.
The improvement in the company’s finances was down to an 11.1% cut in operating costs, thanks to a reduction in integrated TV costs in Italy in particular. Mediaset’s result in 2016 had been hit by the impact of its aborted pay TV deal with Vivendi.
Mediaset said that it expected advertising revenues to improve this year, despite a negative trend in the first two months. The group expects its exclusive rights to air the football World Cup in both Italy and Spain will help it improve its performance, but noted that market visibility remains poor.
The advertising market had a negative impact on Mediaset’s performance last year, with ad sales in Italy dipping compared with the previous year and revenues in Spain rising only marginally.
The group also highlighted the “transformation” of its pay TV offering Mediaset Premium, which it said was now “less rigidly dependent on football” and based on a new model that involved opening up the digital-terrestrial pay TV platform “to third parties”.
Mediaset recently struck a wide-ranging pay TV deal with rival Sky whereby its pay TV services would be offered alongside Sky’s on satellite and Sky would develop an offering to sit on the DTT platform.
Mediaset’s pay TV offering posted revenues of €587.4 million, down 5.2% year-on-year.
Drahi launches public offer to take Altice Europe private digitaltveurope.com/2020/11/26/dra… https://t.co/PKDbxPnC4H
26 November 2020 @ 14:29:00 UTC
Small number of fans allowed back to English Premier League grounds following relaxed government rules… twitter.com/i/web/status/1…
26 November 2020 @ 14:04:30 UTC
Join us for the next DTVE Digital Symposium session on 10 December at 10.00am GMT "Reap the benefits from a shared… twitter.com/i/web/status/1…
26 November 2020 @ 12:05:00 UTC
"Psychology of a Subscriber: Part 1 – Acquisition" is the first of three reports looking at the psychological and e… twitter.com/i/web/status/1…
26 November 2020 @ 10:00:00 UTC