TF1 confirms Ykone sale as it posts solid first half numbers

French broadcaster TF1 has confirmed the sale of its majority stake in influencer marketing agency Ykone to Future Technology Retail.

Completion of the sale comes as TF1 posted solid first half numbers, with 5.2% growth to €1.187 billion.

Having previously said it was in exclusive talks with technology and retail investment outfit Future Technology Retail, TF1 has now finalised the sale of Ykone.

“Within the TF1 Group, we benefited from exceptional support which enabled us to transform from a local player to a global leader. With TF1, Ykone has stepped up its growth and also diversified its businesses. Growth prospects are exciting, and we are delighted to have the financial and commercial support of FTR to further propel our growth in a region that offers tremendous potential for our business.,” said Ykone founder Olivier Billion.

The broadcaster saw solid growth in advertising revenues and from its Newen Studios production unit. However ad sales in the second quarter were down year on year due to a comparison with a quarter that had shown solid revenues coming from coverage of the Euro 2020 football competition.

TF1 said that advertising from travel, tourism, banking, insurance and cosmetics offset a decline in food and automotive, while digital ad revenue increased by €2 million to €65.1 million.

The respectable results come as TF1 suffered a major setback in its attempts to merge with commercial rival M6, with France’s competition regulator expressing concern about its potential anticompetitive impact and demanding changes that the pair said would result in the merger plan becoming unsustainable.