Group advertising revenue decreased by 26% in H1 20, of which -41% in Q2 20, in line with our estimate. The reduction in the cost of programmes of the five free-to-air channels was significant (€107m) and enabled it to offset 52% of the drop in TV advertising. TF1 saw a rebound in advertising in June 2020 which was confirmed in July and August 2020. Nevertheless, there is low visibility going forward.
31 Jul 2020
Drop in revenue, cost reduction
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Drop in revenue, cost reduction
Television Francaise 1 SA (TFI:PAR) | 0 0 -0.1% | Mkt Cap: 2,455m
- Published:
31 Jul 2020 -
Author:
Hélène Coumes -
Pages:
3
Group advertising revenue decreased by 26% in H1 20, of which -41% in Q2 20, in line with our estimate. The reduction in the cost of programmes of the five free-to-air channels was significant (€107m) and enabled it to offset 52% of the drop in TV advertising. TF1 saw a rebound in advertising in June 2020 which was confirmed in July and August 2020. Nevertheless, there is low visibility going forward.