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French media company TF1 Group, the owner of channel TF1, the largest European private TV channel, has reported its Q1 figures.
Consolidated revenue for the first quarter of 2017 reached €498.9 million, up €17 million (3.5 per cent year-on-year).
The Group saw advertising revenue of €365.1 million, up 2.5 per cent, including a rise in advertising revenue for the free-to-air channels (up 2 per cent). This revenue growth was driven mainly by stronger revenue from the Group’s DTT channels, a very good performance in sponsorship following recent regulatory changes, and an increase in digital advertising revenue.
Current operating profit reached €36.3 million, up €21.5 million year-on-year. This performance is due partly to the effects of the cost-cutting and programming optimisation strategy applied from the autumn of 2016, and partly to the fact that the scheduling of some programmes (The Voice, Koh-Lanta, and some French dramas) has been shifted to a later date than in the previous year. Recurring cost savings of €7 million were achieved under the “Recover” plan during the first quarter.
The TF1 group continued to roll out its multi-channel strategy in the first quarter. The five free-to-air channels attracted a combined audience share of 28 per cent among individuals aged 4 and over (+0.7 of a point year-on-year).