News underlines recovery in Italy's broadcast market
MILAN — The growing recovery in the Italo broadcast market was underlined Tuesday with news that nine-month net profits at top commercial broadcaster Mediaset rose 5% to €193 million ($267 million) on the back of higher advertising revenues.
Group, controlled by Prime Minister Silvio Berlusconi, said pay TV unit Mediaset Premium had reached a quarterly operating breakeven despite fierce competition from Rupert Murdoch’s rival paybox Sky Italia.
Mediaset’s combined pay TV earnings from top-up cards and subscriptions for the first nine months leapt 61% to $474 million from $293 million.
The group expects TV advertising sales growth to continue through the remainder of the year.