MADRID — Spanish commercial nets are on a roll. Just days after Telefonica Media-controlled Antena 3 announced a 73% increase in net profits to $122.1 million off $585.6 million net revenues for 1999, Tele 5 has now confirmed a 52% hike in net profits for last year to $107 million.
Net sales for 1999 were $498.8 million. EBIT (operating profits/net income) stood at 31.6%. Tele 5 is owned by Mediaset, the Kirch Group and Spain’s Correo Group, all with 25%.
Tele 5 attributed the best annual results of its 10-year history to cost containment, an increase in its target 13-54 demo to a 23.5% share and a 19.3% rise in ad sales.
Like A3, Tele 5 now aims to strengthen diversification. First new steps are a 24-hour Internet news service, launched last week, and Jumpy, a “Europortal” skedded for this summer.