French TV advertising collapsing
Investment banker Morgan Stanley says French TV advertising is under extreme pressure, with one major broadcaster predicting a “severe downturn” in the period May to September, and that government help in the form of emergency measures might be needed.
French commercial network TF1 will give firmer numbers when it declares its half-year results on July 24th, while M6’s numbers come out on July 26th.
Speaking at a conference in late June, M6’s CEO Nicolas de Tavernost said that the government must start thinking about taking emergency measures for the French audiovisual sector which is facing a very severe deterioration in advertising. “I believe that today, we are not realising the magnitude of the difficulties that the sector is experiencing and will continue to experience…..The advertising market turned severely negative in May. June is not good. July is not looking good and September also looks challenging,” stated de Tevernost.