TF1 records strong streaming growth in 2023, but overall revenue sees slight decline

French commercial broadcaster, TF1, has reported its former streaming offering, MYTF1 delivered a strong performance in 2023 laying a strong foundation for its new launched streaming replacement TF1+.

Source: TF1

During 2023, MYTF1 gained an average of 27.7 million subscribers every month and recorded 1.05 billion streaming hours. This represented an 8% increase compared to 2022. The platform’s advertising revenue was also up 15.7% year-on-year, totalling €104.5 million which contributed significantly to TF1’s overall revenue.

The broadcaster’s newly launched free streaming service TF1+ which replaced the broadcaster’s MYTF1 offering and subscription service MYTF1Max, has also shown a promising start, with a 70% increase in daily users and an 80% increase in views compared to 2023. The French streamer debuted on January 8, housing a range of over 15,000 hours of content.

However, TF1’s consolidated revenue fell by 6.7% compared to last year to €2,296.7 million, which the group put down to the struggling advertising market. The company’s overall media advertising revenue was down 2.1% compared to 2022, at €1,606.4 million. TF1 said uncertainties regarding inflation had an impact on advertisers’ investments in the first half of the 2023.

But, in the second half the year advertising revenue picked up slightly by 1.7% compared to 2022 due to the return of certain sectors and TF1’s coverage of Rugby World Cup in September and October.  The France’s quarter final of the tournament was watched by 16.5 million viewers on the TF1 channel. According the broadcaster, the TF1 linear channel also recorded 28 of the 30 highest ratings of 2023.

Elsewhere, current operating profit from activities (COPA) amounted to €287.4 million, falling by 10.8% in 2023 and revenues for Newen Studios production division declined by 23%.

TF1 said for 2024 its priorities will be strengthening its  linear advertising business “through a premium content offering and a differentiating reach”, as well as growing TF1+ by “optimising the value of digital inventories by strengthening its data strategy”.