TV advertising revenue decreased by 11.5% organically in Q1 20 and TV advertising time dropped by more than 30% in the second half of March 2020 due to ad cancellations. The lockdown led to a surge in average individual TV viewing time by above 20% in March 2020, to unpredecented levels. The problem is that it could not be monetised. Group EBITA collapsed (-29%). Cost cutting has been implemented to absorb half of the fall in revenue in Q2 20.
