Aborted TF1-M6 merger incurs €15m cost
November 2, 2022
From Pascale Paoli-Lebailly in Paris
TF1 Group consolidated revenue amounts to €1.740 billion, up 5.4 per cent year on year, the French broadcaster revealed in its Q3 results.
The Group advertising revenue stood at €1.143 billion, down 1.6 per cent compared to the same period of 2021, while the revenue from other Group activities totalled €596.9 million, up 22.1 per cent.
At Q3, TF1’s net profit went down 38 per cent to 23.9 million, due to an 8.9 per cent decrease of its advertising revenues which were compensated by the sales coming from Newen. The production and distribution affiliate made a “excellent performance” in the third quarter up €64.9 million (+86.7 per cent) to €139.8 million.
Its consolidated revenues passed from €7.5 million to €12.7 million. On the first nine months, it generated a €30.1 million consolidated revenue up 3.1 per cent year on year.
TF1’s operating profit came to €223.7 million, including €15 million in non-recurring expenses related to the proposed and aborted merger between TF1 and M6. The net profit attributable to the Group reaches €150.5 million, up 2,4 per cent year on year.
Incoming MD Rodolphe Belmer joins TF1 at the time when the group is undergoing a distribution conflict with Canal+ which dropped the broadcast of TF1, TMC, TFX, TF1 Séries Films and LCI at the beginning of September 2022, as part a commercial dispute, over a new distribution contract.
This blackout has had an impact on the 4+ demographic audience but has scarcely no effect on the financial results, according to TF1. The group has observed a 30 per cent audience rise of its on-demand service MyTF1.