TF1 reports increase audience views and ad revenue growth in Q3 following Rugby World Cup

French broadcast group TF1 Group reported it attracted an audience of approx 50 million viewers per week during the third quarter, with its coverage of the Rugby World Cup 2023 reaching an audience of 15.6 million for the opening match.

The MYTF1 streaming platform saw growth with an average 27.4 million streams over the eight months to end August 2023. It recorded a total of 682.9 million hours of viewing, representing a rise of 8% year-on-year, twice the level of the broader market which progressed by 4%.

Media advertising revenues went up by 9.7% to 350.8 million euros,  which it accounts was driven by the Rugby World Cup broadcast in September. While media advertising revenues of MYTF1 increased significantly by 24.9% year-on-year reaching 22.1 million euros.

Current operating profit from activities in the Media segment stood at 45.2 million euros, implying a margin of 10.1%, up 1.1 pts. The broadcaster pointed the margin increase to its ability to monetise major sporting events such as the Rugby World Cup.

Though in Q3 the content provider recorded consolidated revenues amounted to 509.4 million euros, down 6.0%.With revenues from Newen Studios falling to 64.2 million euros, down 54.1%.

On the other hand, current operating profit from activities (COPA) stood at 51.7 million euros, up by 1.2% which equated to a margin of 10.1% and a Newen Studios margin of 10.3% up 0.3 pt.  Operating profit stood at 45.4 million euros including a net -5.2 million euros of non-recurring items, TF1 said this was mainly linked to the rationalisation of the Group’s real estate in the context of the recently launched cost optimisation plan.