TF1 down, Canal up

It is a tale of two companies – TF1 hit hard by the negative economic climate and the decline in traditional broadcasting revenue streams, while Canal+ continues to profit from pay-TV.

TF1 Group posted a net profit of €110.5 million for the first nine months of 2008 – a 33.6 % decrease compared to the same period last year.

Objectives for 2008 have then been revised down, with the company now targeting a 6% decrease against the 3% announced before. Over the three quarters of 2008, TF1’s consolidated revenue fell back 4.6%, reaching €1.88bn so far.

Meanwhile, Canal+ Group’s total revenues for the first nine months of 2008 showed 5% growth at €3.3bn, that notably includes a 2.9% growth in subscription and ad revenues at Canal+ and CanalSat/TPS.

The total number of subscriptions, in France, overseas territories and Africa, reached 10.4 million at the end of September, up 40,000.