Advertising grew 7.8% to $732 million
Driven by still-buoyant advertising in Spain, broadcaster Telecinco, one of Europe’s healthiest TV networks, posted record first-half earnings of E211.6 million ($290.1 million), up 13.5% year on year.
Total sales came in at $784.2 million. Advertising grew 7.8% to $732 million, another record.
“That’s slightly above expectations, even though the market expected Telecinco results to be excellent,” said Glen Spencer Chapman at Ibersecurities.
Telecinco was the only broadcaster in Spain to notch up 20%-plus audience shares January-June, reaching an all-day average of 20.4%.
That share owed much to Telecinco’s primetime fiction, with seven series in Spain’s top 10 of highest rating dramas last season, led by “CSI: Miami” (5.1 mil-lion viewers, 27.7% share), Spanish sitcom “Aida” (4.9 million, 28%) and domestic ER drama “Hospital Central” (4.7 million, 27.2%).
The challenge for Telecinco is to raise its TV ad prices to compensate for falling share in a fragmenting Spanish TV market.
According to Telecinco managing director Giuseppe Tringali, the Mediaset-controlled broadcaster has managed to push up prices by 9.8% this year.