France’s TF1 Group has posted a positive set of results for the first half of 2022, as Covid-19 pandemic challenges which weighed on turnover in 2020 and 2021 continue to subside.
The results followed news on the Wednesday (July 27) that the France’s competition authority had raised concerned about the group’s plans to merge with the M6 Group.
The group’s six-month report operation suggested the operation remained a key project for the coming months, noting it had spent $6.8m (€6.8m) on related expenses to date.
Talking on the margins of the results announcement, TF1 Studios CEO Gilles Pélisson said both parties remained committed to the plan but were also open to the fact it might not go ahead.
“The dream we shared is not necessarily shared by the competition authority,”He said. “On that basis, before the dream becomes a nightmare, there also needs to be a reality check, around the fact this dream may not happen.”
For the six-month results, net profit rose 16.7% for the period to $127m (€126m) on a 5.2% rise in turnover of $1.2b (€1.186b).
Operating profits rose by 11.6% to $190m (€188.7m) for a profit margin of 15.9%, a 0.9% rise against the same period in 2021. The profit margin grew to 20.6% in quarter two due to an increase in advertising.
According to the group, it maintained a 33.5% market share in the audience of under 50s and a 30.1% share in the 25-49-year-old segment.
Top broadcasts for the period included French President Emmanuel Macron’s televised speech on March 2, responding to Russia’s invasion of Ukraine, which drew 8.7m viewers, and the televised presidential election debate between Macron and rival candidate Marine Le Pen on May 4, which drew 7.5m viewers.
Other than news and politics, there are long-running entertainment programs such as Les Enfoirés, The Voice And Koh LantaPerformance was good with nightly viewer numbers increasing to 8.4m, 5.8m, and 5.7m respectively. These numbers represent 40 to 50% of the Under-50s audience.
The second season of comedy-drama high-end was also mentioned by the group. HPIAudrey Fleurot stars in the musical. The show attracted a record 10.9m people, representing 58% of the under-50s audience.
The cinematography also had a significant role. Serial (Bad!) Weddings 2The show attracted 7.8 million viewers, representing a 43% market share.
The group said it had spent $445m (€440m) on programming in the first half of 2022, which was €25.8 less than the previous year. The group explained that the decrease was due in part to the lack of major sporting events.
Breaking down the results of production subsidiary Newen Studios, the group posted a $159m (€158.4m) turnover, representing a 9% rise on the same period on 2021.
The operating profits fell by $4.3m (€4.3m) to $17.6 (€17.4m), however, for a profit margin of 11%. The TF1 group attributed the decrease to seasonal factors in the first quarter. However, the profit margin improved to 17.8% in the second quarter.
“Newen Studios will benefit from important deliveries in the second half of the year and new orders, notably from the platforms, allowing it to be confident about its capacity to hit its fixed objectives,”It was.
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The group noted that platform commissions accounted for 35% of Newen Studios’ order book as of end-June, citing shows Nemesis Hunt for Jasper S for the Netherlands’ Tuvalu.