Spanish b'casters see results tumble

Iñaki Ferreras

The economic crisis is affecting Spain's television business badly. Latest figures for Q2 this year show the extent of the crisis.

Mediaset's Telecinco is the best positioned company, closing this period as the most profitable national media with a net profit of €62.2 million. Also in this period the company cut down its operational costs by 17.7% due to its adjustment in staff and purchases. EBITDA was €98.10 million and net revenues were €320.7 million.

Meanwhile, Grupo Planeta's Antena 3 saw profits down 71.6% in this period. At the same time the company's net revenues reached €365.5 million while in the same period of last year they were E476.9 million, a downturn of 23.4% that was mainly due to the downturn in advertising. Profits went down a spectacular 71.6%, from €80 million in the same period last year to €22.7 million in Q2 this year.