Italy: Rai breaks even in 2023
April 18, 2024
From Branislav Pekic in Rome
Italian public broadcaster Rai achieved a balanced net profit for 2023, according to financial statements approved by its Board of Directors. Net debt improved to €568 million compared to the previous year, indicating a sustainable financial position.
Despite missing revenue from major sporting events and facing advertising restrictions, overall advertising income grew by more than €22 million. This was primarily driven by a 31.6 per cent surge in web revenue, fueled by streaming service RaiPlay’s strong performance.
The absence of major sporting event expenses, combined with continuous cost-optimisation efforts, allowed Rai to invest in strengthening its content offerings and digital transformation. Revenue from the TV licence fee declined due to a rise in unpaid electricity bills, reflecting the country’s current economic climate.
Rai maintained its prime-time TV viewership leadership with a 37.8 per cent share and a 37 per cent share for the entire day. Rai 1 remained the top national channel, leading in both 24-hour (18.3 per cent) and prime-time (20.4 per cent) viewership. The channel secured the second position among European channels after BBC One.
Rai’s digital platforms saw significant growth. An average of 19.4 million users, representing 44 per cent of Italy’s active internet population, connected to Rai’s websites or apps at least once a month, reflecting a 37 per cent increase compared to 2022.
The news portal RaiNews.it achieved a monthly average of 12.2 million unique users, ranking tenth in the Current Events and Global News category according to Audicom.
RaiPlay continued its positive trajectory with an average of 11.1 million unique users per month in 2023 (an 18 per cent increase year-over-year) and an average viewing time of 2 hours and 29 minutes. Fiction remained the most popular genre on RaiPlay, accounting for 50 per cent of total on-demand views.
Regarding digital device viewership (both browser and app), Rai captured 32 per cent of the total time spent. The broadcaster held an 18 per cent share of the linear viewing market and a commanding 44 per cent share of the on-demand market with 445 million hours consumed.