TVN benefits from ad market improvement

Polish broadcaster TVN said a recovering TV ad market and improvement in brokerage fees from premium TV services helped it to up its revenues in Q1. 

The firm said that advertising and sponsorship revenues in the period up by PLN 7 million, or 2.5%, while the TV advertising market increased by 4.8%.

Brokerage fees from Premium TV services reached a revenue growth rate of 87%.

”TVN maintained its market leader position reflected in the highest value market share in the TV advertising environment which was in line with expectations delivering mid-single digit growth in the first quarter,” said CEO Markus Tellenbach.

“Performance of TVN was softer due to impacts of [the] novelty factor for new DTT channels benefiting from full national reach and good audience share results of [the] Winter Olympic Games. However, our initiatives in non-linear content exploitation and TV advertising brokerage performed exceptionally well: online video usage was again up by close to 50% while third party inventory represented by premium TV expanded by more than 80% driving similar revenue growth.”

TVN said its channels portfolio increased its all day audience share in the commercial target group by 0.7 percentage points year-on-year to 23.5% and said that its pay TV operator division nc+ counted 2.2 million post-paid subscribers at the end of March.

Overall, TVN’s revenues increased by 2.5% year-on-year in the first quarter, reaching PLN 352 million. However, reported EBITDA in the first quarter was PLN 96 million, down year-on-year by 2.3%.