Spanish media group Mediapro has reported a profit of €12 million at the end of 2023, versus a loss of €69.4 million one year earlier.

The company increased its revenues by 2.2 per cent to €120 million, though still far away though from a pre-pandemic €177 million in 2019.

Mediapro, controlled by Chinese Fund Orient Hontai with a 80 per cent stake, is focussing now more on the provision of TV services, representing 44 per cent of its revenues, and content creation (28 per cent). Sports rights now represent only 21 per cent of its revenues, versus 50 per cent in 2019.

Additionally, the company is relying on its US expansion to continue growing with plans to reach €219 million of EBITDA this year.

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Tags: Mediapro, spain