Core business rise 64%, co. looks to launch Radio
LONDON — In a sign of good health for the music television market, Viva Media, Germany’s equivalent to MTV, reported revenues of 55.2 million euros ($48.56 million) compared to 1999’s $42.9 million. The 13% jump is more than double the net average increase for television advertising in Germany last year.
Earnings before interest and taxes (EBIT) from the company’s core business were up 64% to $6.42 million.
Already airing in Germany, Hungary, Poland and Switzerland, Viva is looking to enter Italy and Spain and is eyeing the U.K. as a potential part of its planned pan-European operations.
Company chief Dieter Gorny said Viva intends to increase Internet activities and launch Viva Radio this October.