Channel reports $711.5 mil for first half 2001
PARIS — Canal Plus’ French premium channel reported revenues of 771 million euros ($711.5 million) in the first half of 2001. Subscription revs accounted for $665.3 million, up 2% from the same period last year, while advertising represented $39.7 million, less than 6% of the total. Subs were stable at 4.54 million as of June 30.
The channel is 49% owned by Vivendi Universal, in accordance with French broadcasting laws that prevent a single company from holding a bigger stake in a Gallic web. However, under terms of a distribution agreement with Viv U, the channel retains just $22.1 million in guaranteed income, while some $251 million is paid to Viv U.
Programming costs fell 4% to $314.7 million. After financial expenses and income tax, consolidated net income stood at $13.8 million.
Full-year consolidated net income will amount to 3.3% of sub revenue, around $44.3 million in keeping with the distribution agreement.