Spain: Private TV weathers TV ad storm

Despite the free fall in TV ad revenues, the largest commercial TV companies in Spain, Mediaset and Atresmedia are making profits with an average net benefit of €30 million each to the end of June.
Atresmedia, owner of Antena 3 and La Sexta, made a €29.1 million profit in the first half of 2013, up 62.3 per cent against the same period last year, despite the fall of 12.8 per cent in TV ad revenues. Total revenues amounted to €423 million, up 10 per cent whereas operating costs raised by 9.4 per cent to €383.5 million. EBITDA amounted to €39.5 million, up 15.9 per cent.
Mediaset, owner of Tele 5 and Cuatro, made a net profit of €30.1 million, down 20 per cent, with a total turnover of €425.05 million, down 8.8 per cent due to the TV ad crisis. EBITDA reached €55.5 million with an operating profit (EBIT) of €47.2 million. TV ad revenues amounted to €387.9 million representing a market share of 44.1 per cent from the total TV ad pie.
Combined, both groups – that operate eight channels each – control almost 90 per cent of the TV ad market and around 55 per cent of the TV ratings.

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