Fewer SVoD commissions impact Gaumont TV revs
March 14, 2023
From Pascale Paoli-Lebailly in Paris
TV and film industry group Gaumont has posted a downgraded 2022 consolidated revenue of €217.9 million, down 18 per cent year-on-year, highlighted by a €12.3 million loss compared with a €1 million profit the previous year.
The group reported film and TV production and distribution revenues down 23 per cent over one year to €34 million. This includes €21.9 million revenues from TV activities, down 26.2 per cent.
Those results are partly as a result of streaming platforms cancelling or not renewing US series as they have come to reduce their content investments “drastically”, according to the company.
Global revenue from TV production reached €133.3 million in 2022, falling by 31 per cent. While French and European TV activity remained stable, Gaumont suffered from a 46 per cent drop in US and animation commissions.
Over one year, twelve programmes have been delivered or partially delivered (El Presidente, Totems for Prime Video, Barbarians for Netflix) compared with fourteen the year before.
Highlighting an “uncertain environment”, Gaumont’s 2023 outlook will depend upon “the market trend and the way the platforms investments will evolve”.