The Board of Directors of Italian broadcaster Mediaset has approved the results for the first quarter of 2018 which confirm a return to profit.
Net revenues were €860.6 million, compared with €889.3 million a year earlier, with the Italian market accounting for €631.0 million (€649.3 million) and the Spanish market for €229.6 million (€240.4 million).
Revenues were affected by the slowdown in the advertising market. In Italy, gross TV advertising sales were €505.8 million (€512.2 million), while in Spain they reached €224.6 million (€235.4 million).
EBIT dropped from €76.2 million to €53.9 million, of which €63.6 million in Spain and a negative €9.8 million in Italy. Net profit also fell to €3.5 million from €15.8 million.
In Italy, total net revenues fell to €609.6 million (€630.1 million), with pay-TV accounting for €137.6 million (€151.4 million).
Mediaset is the audience leader in the commercial target of 15-64 year-olds with a 36 per cent share in the 24-hours. A positive audience trend is expected in the core channels segment due to a strong line up of programmes in Q2 and Q4. The thematic channel portfolio will reach 10 channels, following the launch of 2 new channels: 20 (Cinema and Series) and Focus (docu-science, launching on May 17th).
Among the key drivers for 2018/2019 are the exclusive rights to this summer’s World Cup in Russia; the first Screen Interactive Offer for connected TVs during the World Cup; and the expected increase of audience share for the Mediaset Premium Cinema and Series channels as a result of the recent distribution agreement with Sky Italia.
In Spain, the Mediaset España TV channels maintained their audience leadership with a daily average 27.9 per cent share.