Coverage of the FIFA World Cup has helped lift French commercial broadcaster TF1’s performance for the first nine months of the year, with revenues for the period up 6.9% to €1.576 billion.
Operating profit, excluding a non-recurring charge related to the acquisition of Newen Studios, was up 8.9% for the first nine months to €107.8 million, while Q3 operating profit jumped from €2.6 million to €18.3 million.
TF1 said that the results, which were warmly received by the markets, was linked to the World Cup as well as to its post-summer line-up of content, new distribution deals with telecom operators and its strategy of diversification.
The broadcaster said that its operating profit also signaled its success in adapting its cost structure to maximize profitability.
Flagship channel TF1 saw its audience ratings increase by 1.2 percentage points to reach 22.6% for the third quarter on the back of the broadcaster’s World Cup coverage.
Digital platform MYTF1 increased its number of views by 6.8% to an 326 million in the quarter, and one billion for the nine months.
Digital revenues are still modest, at €61.4 million for the nine months. However, TF1 said it was targeting digital revenues of at least €250 million by 2021.