Mediaset Spain saw its profit fall by 45.1 per cent in the first half of the year to €70 million, mainly due to the sharp drop of 30.6 per cent in advertising TV revenues.
Net revenues fell by 22.3 per cent to €375.1 million, with ad revenues reaching €314 million, down 30.6 per cent. EBITDA stood at €99.6 million, down 38.9 per cent versus the same period last year.
With ad revenues drastically falling, the group is now hedging their bers on other areas such as Mediterraneo España Group, Mitele Plus and Telecinco Cinema to increase revenues.
Mediaset Spain, operator of Tele 5 and Cuatro, leads the ratings in the country with an average TV audience share of 28.6 per cent. Tele 5 is the market-leader in terms of viewers with a share of 14.6 per cent.