Spain’s largest TV groups Mediaset and Atresmedia are paying a high price as a result of the coronavirus crisis. Both companies are seeing profits sharply dropping.
In the first nine months of the year, Mediaset saw its profits fall by 34 per cent to €103.2 million, down €53.8 million. In Atresmedia’s case the reduction is even worse, with a fall of 50.3 per cent to €39.9 million.
Revenues at Mediaset went down by 17.3 per cent to €546.6 million whereas EBITDA stood at €150.1 million, down 26.4 per cent in the first nine months. In the third quarter, the performance went better with a net profit of €33.2 million, up 12.3 per cent versus the same period last year.
As for Atresmedia, the group’s revenues amounted to €580.1 million until September, down 19.8 per cent versus last year with an EBITDA of €73.1 million, down 42.1 per cent.