TVN Q1 boosted by ad market recovery

TVN revenues increased year-on-year by 2.5 per cent in the first quarter and reached PLN 352 million on the back of a recovering TV advertising market and the strong results of its Premium TV brokerage operation and the non-linear content initiative.

Advertising and sponsoring revenues in the period were up by PLN 7 million, or 2.5 per cent, for the Polish broadcaster, while the TV advertising market increased by 4.8 per cent.

Premium TV and online video initiative posted revenue growth of 87 per cent and 24 per cent respectively.

Markus Tellenbach, Chief Executive Officer said: ”TVN maintained its market leader position reflected in the highest value market share in the TV advertising environment which was in line with expectations delivering mid-single digit growth in the first quarter. Performance of TVN was softer due to impacts of novelty factor for new DTT channels benefiting from full national reach and good audience share results of Winter Olympic Games. However, our initiatives in non-linear content exploitation and TV advertising brokerage performed exceptionally well: online video usage was again up by close to 50 per cent while third party inventory represented by Premium TV expanded by more than 80 per cent driving similar revenue growth.”

“Current trading is in line with the guidance while TVN expects the second half of 2014 to deliver more pronounced growth and, absent of major one-off events, stronger programming performance. We maintain the guidance of full year mid-single digit growth in TV advertising market.”

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