Spain: Atresmedia’s profit down 67.4%
July 30, 2020
From David Del Valle in Madrid
The free fall in Spain’s TV ad revenues has had a big impact on Atresmedia’s results with a decline of 67.4 per cent in profits to €22.7 million in the first half of the year.
Net revenues amounted to €375 million to June 30th, 30.6 per cent down, with an EBITDA of €42.8 million, down 58.8 per cent. EBIT reached €33.3 million until June versus €94 million, down 64.6 per cent.
The sharp fall in revenues are due to the deep crisis in the advertising market brought on by the pandemic, with an overall drop of 42.9 per cent in the second quarter and 27.9 per cent in the whole semester, 50 per cent fall in TV ad revenues in the second quarter and 31.8 per cent in the first half of the year.
Atresmedia TV saw an average audience of 26.1 per cent with a market share of 41.9 per cent. Atresmedia’s OTT service Atresplayer Premium managed to reach 253,000 subscribers.