Spain’s largest private TV groups, Mediaset and Atresmedia, are predictably suffering a sharp drop in TV ad revenue. In the first quarter of the year, they have seen their profits fall by eight and 24 per cent, respectively.

Atresmedia, operator of Antena 3 and La Sexta among other channels, made a €21.7 million profit, down 24.4 per cent from €28.7 million the same period the previous year. Its ad revenues fell by 13.2 per cent in the quarter (27.8 per cent fall only in March) from €257.3 million to €223.4 million. The TV division saw a 12.5 per cent fall in revenues to €210.3 million.

Mediaset made a net profit of €48.9 million, down 8 per cent, with an EBITDA of €67.3 million, down 4.3 per cent. TV ad revenues fell by 9.1 per cent to €194.4 million.

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