TVN posts solid first-half results
TVN-owned Polish DTH satellite pay-TV platform n had 683,000 subscribers at the end of the second quarter, which the operator said was inline with expectations.
Post-paid subscriber additions for the first half numbered 61,000, taking the post-paid total to 557,000 in June, of which 554,000 had been activated. However, growth slowed to 10,000 in the second quarter. ARPU was PLN59 (Â14.25), up from PLN49 in June 2008.
Ân turned in revenue of PLN 214m for the first half of 2009, representing growth of 98.3% year-on-year. Subscription fees accounted for PLN191m of this, up by 118.7% year-on-year.
TVN as a whole reported consolidated net revenues of PLN1.015bn for the first half, up 6.7%. EBITDA was PLN392m, up 4.9%. However, operating profit fell by 6.7% to PLN313m.
Flagship channel TVN maintained its position as the leading Polish channel, and grew its share of the TV advertising market from 35.3% to 35.9%. However, advertising revenue decreased by 12.3% to PLN650m.Â