Mediaset expects to close 2020 in profit
December 22, 2020
From Branislav Pekic in Rome
Itailan commercial broadcaster Mediaset expects a 4 per cent growth in advertising revenue during the second half of 2020, compared to the same period in 2019, with a peak of 6-7 per cent in the last two months of the year.
In an interview with daily Corriere della Sera, CEO Piersilvio Berlusconi said that revenues dropped by over 50 per cent in April, as a result of the Covid-19 pandemic, while the drop for the first six months of the year was 24 per cent.
However, instead of limiting losses, the group opted to review costs and re-plan and, as a result, may even close 2020 with a profit.
The cost budget forecast improved by over €260 million, while the consolidated net financial position will increase by around €200 million, despite major new investments such as the one in German TV station ProsiebenSat.
In addition, according to Berlusconi, all Italian TV channels increased ratings in the period, with Mediaset also gaining market share.
He confirmed Mediaset’s plans of setting up a pan-European free-to-air TV group. Although he did mention any names, Berlusconi admitted that they have been approached by TV stations from other European countries and even a major player from the US.