28 JUL 2023

TF1's linear and digital media reached €146.3 million in the first half of 2023

TF1 channel achieved a significant increase and confirmed its audience leadership on commercial targets, while MYTF1 streaming platform averaged 27.8 million streamers over the half-year.

28 JUL 2023

TF1 Group

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TF1 Group reaches nearly 50 million French people every week with its content in H1 2023, offering a unique value proposition to advertisers. The Group confirmed its audience leadership on commercial targets (up 0.1pt), while maintaining a strong discipline on its programming costs.

In particular, TF1 channel achieved a significant increase among W<50PDM, with an audience share of 22.9%, up 0.6 pt, representing a record gap with its number-one competitor for the H1 period and among 25-49-year-olds, with an audience share of 19.9%, up 0.2 pt. On the other hand, MYTF1 streaming platform averaged 27.8 million streamers over the half-year, with a record performance of 30.6 million streamers in May and 107 million streamed hours in the same month, representing 41.3% of the market share and almost twice as much as its closest competitor.

Overall, first-half revenue for the Media segment reached €904.4 million, a decrease of €62.9 million (-6.5%) excluding scope effects. In end-June 2023, the Media segment generated advertising revenue of €746.4 million. Excluding scope effects, advertising revenue was down €48.3 million (-6.1%), given the inflationary macroeconomic environment impacting advertisers' spending across most sectors. 
Within the Media segment advertising revenue, MYTF1 advertising revenue continued to grow, outperforming the market. At end-June 2023, MYTF1 revenue totaled €46.3 million, up 12.8% from H1 2022.

Newen Studios posted first-half revenue of €133.7 million, down €24.7 million. This revenue change was mainly due to a decline in activity with France Télévisions, an unfavorable base effect linked to the delivery of "Funeral for a Dog" for Sky Germany in Q1 2022, and the discontinuation of activity with SALTO. The end of "Plus belle la vie" was broadly offset in revenue by the contribution from acquisitions made in 2022. Current operating profit at Newen Studios amounted to €6.0 million over H1 2023, including €7.6 million in Q2, i.e. a margin of 10.3% for Q2 2023.

In a market that could gradually return to 2022 levels during H2 2023, advertising revenue in the Media operating segment will notably be driven by the broadcast of the Rugby World Cup, which will be hosted in France. During the event, MYTF1 streaming platform will offer a number of original media features, including a partnership with Meta (launch of "Instagram Broadcast Channel" 12 in France) and an all-new "Top Chrono" feature (on-demand video summaries).

The second half will also see the return of serialized general entertainment with strong potential in non-linear, like "Star Academy" and "Les Bracelets Rouges." The recently announced reboot by Newen Studios of the iconic soap opera "Plus belle la vie" which will be broadcasted on TF1 channel and streamed on MYTF1, is part of the Group’s digital acceleration strategy and reflects the synergies within the Group.