The largest private TV channels in Spain, Mediaset-controlled Tele 5 and Antena 3 TV, reduced their profits in 2011 by 10.6 per cent and 14.4 per cent respectively following the sharp fall in ad revenues with a drop of 11.4 per cent and 2.6 per cent respectively.
Mediaset Spain, ower of Tele 5 and Cuatro, recorded a net profit of €143.45 million, down 10.6 per cent over the previous year. The accounts include an impact of €32.9 million in writedowns from Cuatro and Digital Plus, otherwise the result would have been better with a growth of around 66 per cent in the profit reaching €110.5 million.
In 2011, Mediaset had a total turnover of €1.009 billion, down 13.9 per cent with an EBITDA of €192.88 million, up 19.1 per cent. Ad revenues fell by 11.4 per cent to €971.5 million. Mediaset leads the TV audience in Spain with a share of 27 per cent (including all its channels) and with Tele 5 as the most widely TV channel with a share of 13.7 per cent.
Antena 3 TV declared a net profit of €93.4 million, down 14.4 per cent with an EBITDA of €124.4 million, down 20.7 per cent. Total turnover reached €805.2 million, down 0.3 per cent with ad revenues totaling €669.6 million, down 2.6 per cent. Antena 3 reported an average audience of 17.1 per cent, up 1.3 points compared to 2010.