MADRID — Though battered by a TV ad slump in Spain, private Spanish broadcaster Telecinco reported full year net profits of €112 million ($98 million).
These were down 27.5% on a year earlier, but were made off just $508 million in advertising revenues, a result that makes Telecinco one of the smaller but healthiest of major commercial broadcasters in Europe.
Down 10% on 2000, ad revenues were also hurt by the runaway success late last year of talent gameshow “Operacion Triunfo” on rival TVE 1, the aggressively commercial channel of pubcaster RTVE. But Telecinco had its own reality show hit — the second season of “Big Brother” took an average 30% audience share.
While savaged by economic doldrums, Telecinco contained costs at a slight 2.5% rise for the year. It also continues its diversification drive. Led by the company’s Estudios Picasso studio and Atlas news agency, non-ad revenues rose 63% to $55.6 million.