Portugal’s Sport TV sees 40% drop in profits
April 8, 2019
From Branislav Pekic in Rome
Portugal’s premium sports platform Sport TV saw a 40 per cent drop in annual profits during 2018 to €2.97 million.
According to the financial report of telecom operator NOS, which owns a 25 per cent of Sport TV, revenues were stable at €188.1 million, but costs increased by 2.7 per cent to €185.1 million.
In the same period, liabilities increased 10 per cent to €140 million, while assets grew 10.6 per cent to €161.8 million.
Last year was also marked by the entry of UK OTT streaming service Eleven Sports on the Portuguese-TV market, challenging the 15-year monopoly of Sport TV, only partially broken in 2012 with the entry of Benfica TV.
Currently, Sport TV holds the Portuguese broadcasting rights of several international sports events, such as the UEFA Champions League and La Liga, as well as other sports such as Formula 1 and golf.