M6 Metropole Television: 2024 First Quarter
TV advertising revenue: €220.1 m, up 2.9%
Consolidated revenue: €322.3 m, up 4.3% excluding scope effects1
EBITA: €57.9m
Governance:
Appointment of
M6 METROPOLE TELEVISION (Paris:MMT):
Q1 |
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|
|
|
|
|
|
|
(€ millions) |
2024 |
|
|
2023 |
|
% change |
Consolidated revenue2 |
322.3 |
312.9 |
+3.0% | |||
Group advertising revenue |
252.1 |
247.1 |
+2.0% | |||
- of which TV advertising revenue |
220.1 |
214.0 |
+2.9% | |||
- of which other advertising revenue |
31.9 |
33.1 |
-3.6% |
|||
Group non advertising revenue |
70.2 |
65.8 |
+6.7% | |||
Consolidated profit (EBITA)3 |
57.9 |
59.5 |
-2.6% |
|||
Operating margin |
18.0% |
19.0% |
-1.0pt | |||
For the first quarter of 2024,
Group advertising revenue grew 2.0% in comparison with the first quarter of 2023, as a result ofthe increase in TV advertising revenue, which totalled €220.1 million (up 2.9%).
Non-advertising revenue grew 6.7%, primarily driven by the momentum of the film business over the first quarter.
Group operating profit (EBITA)3 totalled €57.9 million, down 2.6%, due to an increase in forecast investments as part of the streaming plan, thereby recording an operating margin of18.0%.
Television
|
Q1 |
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|
|
|
|
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(€ millions) |
|
2024 |
|
2023 |
|
% |
Consolidated revenue |
|
254.5 |
|
249.8 |
|
1.9% |
o.w. advertising revenue |
|
220.1 |
|
214.0 |
|
2.9% |
In the first quarter of 2024, individual viewing time stood at 3 hours 6 minutes4 across the public as a whole. Over the same period, M6 Group’s free-to-air channels (M6, W9, 6ter and Gulli) achieved an audience share of 20.6% on the key commercial target of 25-49 year olds (down 0.4 percentage points).
The M6 channel continued to achieve healthy audience shares amongst 25-49 year olds for its enduring brands such as Top Chef (29%), Pékin Express (29%) and Mariés au premier regard (22%), and during the period it completed the successful launch of the cult show Le
On DTT, W9 and Gulli enjoyed a very successful start to the year, with W9 confirming its position as the second most popular DTT channel amongst the under 50s, while Gulli remained the top children’s channel.
6play, the platform with the youngest audience on the market, posted an all-time record in early 2024 with 23.1 million unique monthly users in March (up 25% in relation to
Driven by the recovery of the TV advertising market, TV advertising revenue totalled €220.1 million for the three months to
Radio
The RTL radio division recorded an audience share of 16.6%7 with listeners aged 13 and over and attracted almost 9 million listeners each day, thereby maintaining its position as the leading commercial radio group.
For the year to
Production and Audiovisual Rights
Revenue from Production & Audiovisual Rights rose by €8.3 million in comparison with the first quarter of 2023 and totalled €27.0 million. The quarter’s activity was driven by momentum in film with the number of cinema admissions reaching 5 million over the period, against 1.2 million in the first quarter of 2023. Two films recorded more than one million admissions – Cocorico (1.9 million) and One Life (1.4 million) – whilst other films, such as Breaking Point (0.5 million) and Bolero (0.3 million), also performed well.
Diversification
Diversification revenue stood at €6.6 million for the three months to
Financial position
The Group had shareholders’ equity of €1,347.4 million at
The net cash position increased by €38.9 million, standing at €355.6 million8, compared with €316.7 million at
Dividend
The Combined General Meeting held today has approved the payment of a dividend of €1.25 per share in respect of the 2023 financial year, providing a yield of 9.7% calculated based on the 2023 closing price. The ex-dividend date will be 30 April and dividends will be paid on
Outlook
The second quarter of 2024 will be marked by the broadcast of Euro 2024 for which, as official broadcaster, the Group will exclusively show, free-to-air and live, half of the top 25 matches including the final, one semi-final and two quarter finals (including France’s match if they qualify).
CSR commitments
As a producer and broadcaster of content,
Ethics Committee
In accordance with Law n°2016-1524 of
The Ethics Committee will thus be comprised of
Governance
- Supervisory Board
The Combined General Meeting held today approved the reappointments of
The Supervisory Board is made up of nine members, including three independent members and 50% female members10, in compliance with the Article L.225-69-1 of the French Commercial Code:
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-
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- CMA-CGM Participations, represented by Véronique Albertini-Saadé, independent member,
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-
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- RTL Group Vermögensverwaltung GmbH, represented by
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- Executive Board
The Supervisory Board which met today duly noted the resignation of
Upon the recommendation of the Appointments Committee and of the firm belief that the Group’s demanding and dynamic culture is an essential asset in its continued development, the Group has appointed
In addition, upon the recommendation of the Appointments Committee, the Supervisory Board appointed
The Executive Board is therefore made up of five members:
-
- Karine Blouët, Member of the Executive Board in charge of Public Affairs,
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-
-
Next release: 2024 half-year financial information on
M6
Ticker: MMT, ISIN Code: FR0000053
1 Excluding the deconsolidation of Ctzar, sold on
2 The information provided is intended to highlight the breakdown of consolidated revenue between advertising and non-advertising revenue. Group advertising revenue includes TV advertising revenue (advertising revenue of free-to-air channels M6, W9, 6ter and Gulli, and the platforms 6play and Gulli Replay, as well as the share of advertising revenue from pay channels), the advertising revenue of radio stations RTL, RTL2 and Fun, and the share of advertising revenue generated by diversification activities.
3 Profit from recurring operations (EBITA) is defined as operating profit (EBIT) before amortisation and impairment of intangible assets (excluding audiovisual rights) related to acquisitions and capital gains and losses on the disposal of financial assets and subsidiaries.
4 Médiamétrie
5 Médiamétrie – TV rating across 4 screens (channels) – not including viewing of 6play exclusive programmes
6 Total revenue from digital advertising revenues (AVOD) and revenues from subscriptions related to SVOD (6playMax and GulliMax)
7 Médiamétrie
8 The net cash position does not take into account lease liabilities resulting from the application of IFRS 16 - Leases and now excludes loans to and borrowings from associates. Earlier periods have been restated to provide a similar comparison base.
9 Mediamat Médiamétrie – Coverage (10 consecutive seconds) of programmes on free-to-air channels that took part in the campaign (M6 + W9 + 6ter + Gulli)
10 Excluding the Board member representing employees
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Source: M6 METROPOLE TELEVISION