PARIS — The chief exec of TPS, France’s second digital platform, said Wednesday that operating profits for 2000 were up compared to 1999, but the company is expected to stay in the red until 2001.
In 2000, TPS’ cash flow was 120 million francs ($17 million), Jacques Espinasse told daily business paper La Tribune. “The EBITDA will be very substantial in 2001,” he added, “and we’re back on track for a more balanced performance.”
TPS doesn’t expect to see profits until 2001 due to major investments, particularly in sporting rights.
The success of TPS Interactive has boosted the company’s performance, doubling the division’s revenues from $2.6 million in 1999 to $5.3 million in 2000.
When TPS was launched in 1996, the only interactive services were a weather forecast and a program guide. Since the beginning of this year, TPS has been offering 150 interactive services.
TPS belongs to French private channels TF1 and M6, Suez-Lyonnaise, France Telecom and France Television.