Pay-TV revenues are overtaking FTA advertising revenues for the first time in Spain, according to the latest report from regulatory body CNMC.
Total pay-TV revenues grew by 14.8 per cent to €520 million in the first quarter of the year. Pay-TV fees amounted to €489 million with 18.4 per cent growth. FTA TV revenues totalled €465 million, up 6.4 per cent.
The convergent TV offers and the proliferation of new OTT platforms like Netflix and HBO are boosting the market.
Telefónica is leading the market with pay-TV revenues of €423 million, up 11 per cent; followed by Vodafone with €56 million, up 28 per cent; and Orange with €20.26 million, up 66 per cent.
According to CNMC, pay-TV subscribers grew by 5.5 per cent to 6.1 million in the first quarter, a slower rise than previous quarters. IP, streaming and cable gained 521,000 new subscribers year-on-year whereas satellite lost 193,000.
For operators, Movistar Plus has 3.6 million subscribers, down 318,000; Vodafone, 1.3 million, up 275,000; Orange 520,000, up 135,000 and Euskaltel, 275,000, up 72,000.