Antena 3 profits plummet

Iñaki Ferreras

One of Spain's main broadcasters, Grupo Planeta's Antena 3, saw a net profit of €8.1 million in Q1 this year, a whopping 74.2% less than the same period the previous year.

Between January and March this year the company's net revenues reached €175 million, 19.5% less than in the same period last year. EBITDA was €22.8 million, or 61.7% less than in Q1 in the previous year.

The reasons for this economic downturn of the broadcaster is the bad state of the advertising market for conventional media, which is Antena 3’s main income.