TVN boosted by ad growth

Polish commercial broadcaster reported an uptick in revenue in the fourth quarter, which it attributed to a strong 5.4% increase in advertising revenue. 

For the quarter, TVN said that consolidated revenue improved by 4.6% to PLN481 million, while full year consolidated revenue was up 3.6% to PLN 1.59 billion. Adjusted EBITDA in the fourth quarter was PLN184 million – up by PLN26 million.

TVN said that its thematic channels portfolio increased its combined audience share in the autumn season from 8.8% to 9.0% year-on-year, while the TVN and Canal+-backed pay TV operator nc+ reported 2.15 million post-paid subscribers at the end of December.

“2014 was a year of full turnaround and recovering momentum. The economy accelerated as expected and almost doubled its growth rate driven by domestic demand and investments. Such favourable macro environment translated into long awaited increase in advertising budgets and recovery of television advertising market which has grown by nearly 5%,” said TVN CEO Markus Tellenbach.