DTT Direct 8 and Direct Star accumulate €267M losses

Pascale Paoli-Lebailly | 21-08-2012

Bolloré Media’s French FTA DTT channels Direct 8 and Direct Star, for which the Canal+ Group has just been given green light to take over, have cumulated €267 M losses over the 2005 and 2010 period.

Direct 8 and Direct Star respectively lost € 60.6 M and €206.1 M. Figures for 2011 have not been disclosed.

Ahead of its final decision about Canal+’s takeover of the two channels that will be made next September, the French TV regulatory body CSA has issued a report on their economical situation.

Despite cumulating losses, both channels have maintained a steady growth over the years. Over the five-year period Direct 8 and Direct Star, previously owned by Lagardère and called Virgin 17, have seen their global revenues significantly rise, peaking at +57% and 56% in 2010. This was above the 35 % average of other private DTT channels. Reaching a €46.7M turnover, Direct 8 positioned itself in fourth place behind W9 (€97.9M), TMC (€86.7M) and NRJ 12 (€51.4M) in 2010.

Following the green light it received last July from the French Competition Authority, Canal+ is awaiting the CSA’s final decision to effectively take control of the two channels.