$ hopes bright for new soccer rights
MADRID — Giant Spanish film and TV conglom Sogecable saw a 25% revenue rise for the first half of the year compared to the same period in 1999.
Net profits were $1.9 million, compared to losses of $6.7 million in 1999.
Sogecable’s sales were Pta77.1 billion ($433.1 million) for the six months ended June 30. Of these revenues, 75% came from subscriptions — 1.8 million subscribers to terrestrial pay TV service and digital premium channel Canal Plus Espana, and more than 900,000 to digital platform Canal Satelite Digital (CSD).
Scoring with soccer
Sogecable looks set to offset current losses at sports rights brokering company Audiovisual Sport ($10.9 million over the first six months of 2000) through recent long-term licensing agreements for soccer rights with both DTT operator Quiero TV and cable operators body AOC.
Sogecable is a joint venture of France’s Canal Plus and managing shareholder Prisa, with 21% each.