Mediaset and Atresmedia, the two largest TV groups in Spain, saw their profits drop by 12 per cent and 26 per cent respectively in the first quarter of the year, mainly due to a fall in ad revenues.

Mediaset made a profit of €53.2 million, down 12.2 per cent on the same period last year with €60.6 million. EBITDA amounted to €67.2 million, down 17.2 per cent with revenues dropping by 4.5 per cent to €229.6 million.

Atresmedia declared a net profit of €21 million, down 26 per cent with revenues falling by 2.7 per cent to €252.19 million. EBITDA reached €33.22 million, down 19.4 per cent with the EBIT decreasing 23 per cent to €28.4 million.

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