Mediapro revenues drop by 20%

Spanish rights agency Mediapro has seen its revenues drop by almost 20%.

According to its annual account filing and reported on by SportsPro Media, the firm’s revenues decreased by 19% to €1.2 billion while post-tax profits shot up by 45% to €188 million.

The company attributed the marketing of its international media rights to Spain’s La Liga as a key revenue generator. Mediapro is in the midst of a five-year broadcast rights deal for €4.48 billion.

Another money-maker for Mediapro was its live production business, which includes lucrative video assistant referee (VAR) contracts for South American soccer governing body Conmebol. It also has production deals in place in Greece, Kuwait, Morocco and Egypt, along with handling the production of La Liga’s broadcast content.

The period covered by the report however does not go up to Mediapro’s recent disputes with the French Professional Football League (LFP). The relationship, recently described as ‘Untenable” by the boss of Canal+, has become strained over non-payment of Mediapro’s second €172 million rights fee installment. Mediapro is refusing to pay unless the LFP agrees to renegotiate the deal in light of the Covid-19 pandemic.

Mediapro’s parent company Joye Media has seen its credit rating downgraded as a result.