France’s top two private broadcasters, TF1 and M6, posted lower profits for 2012 as major advertisers cut their spending.
TF1 said it expected revenue to fall 3 per cent this year in a “deeply troubled economic environment” and vowed to put stricter controls on programming costs in place. It posted a 26 per cent decline in 2012 operating profit to €210.4 million on sales of €2.62 billion. Advertising revenue at TF1’s main channels slipped 2.5 per cent to €1.77 billion, with growth coming mainly from the group’s newer digital channels and sports channel Eurosport.
M6 said its EBITA slid 11 per cent to €218.5 million euros. Sales fell 2.4 per cent to €1.39 billion. The decline in operating profit resulted in part from spending on broadcasting rights for the Euro 2012 football tournament, M6 said. The group added that it had outperformed the TV ad market by limiting the decline in its advertising revenue to three per cent.