Spain’s €15m aid to private TV
April 1, 2020
From David Del Valle in Madrid
The recent UTECA’s demand for financial aid to mitigate the drastic TV ad fall in Spain has been met by the Administration approving a €15 million lifeline to help them.
The government argues that “this exceptional aid” is aimed at compensating TV channels (with a national coverage) in view of “the need to guarantee this essential service in the current crisis”.
For the Administration, the TV channels are now in a paradoxical situation with high audiences for the quarantine and at the same time “they are suffering from a sharp drop of their revenues since the start of the crisis due to the cancelation of advertising campaigns”.
The two largest private TV groups, Mediaset and Atresmedia, which control 85 per cent of the TV ad market, will benefit from these funds, as well as other smaller operators like Vocento, Unidad Editorial, Grupo Secuoya, DKiss, Real Madrid TV and 13 TV.