Report
Jerôme Bodin

ODDO : Spanish advertising market currently down 50%

>Mediaset España: advertising revenues down 9% in Q1 - On Thursday, Mediaset España reported Q1 2020 results that were broadly higher than forecast, with revenues up 1.7% to € 229.8m. Our takeaways: 1/ advertising revenues dropped 9.1% to € 194.4m (ODDO BHF: -8%). The group’s share of the TV advertising market came to 43.7% (+92bp); 2/ other revenues showed a sharp increase to € 35.4m (vs € 12.1m in Q1 2019) due to brisk rights sales, growth in the subscriber base at ...
Underlyings
Atresmedia Corporacion de Medios de Comunicacion SA

Atresmedia Corporacion De Medios De Comunicacion is a television and radio broadcasting company based in Spain. Co. is engaged in the indirect management of television and radio services, which include the broadcasting, creation, production and distribution of television and radio programming, and the sale of advertising time. Group companies mainly carry on business activities relating to the production, copying and broadcasting of sounds and images, and TV and Internet home shopping. Co. provides National and World Digital Television Services. Co. is the parent company of Grupo Antena 3.

Mediaset Espana Comunicacion SA

Gestevision Telecinco is a television network company based in Spain. Co. heads a group of dependent companies, which form the Telecinco Group. Through its subsidiaries, Co. is engaged in the management and commercial exploitation of a television network. Co.'s television network acquires, produces, and distributes audiovisual content. Co. also sells the network advertising airtime, carried out by its subsidiary. In addition, Co. is involved in the sale of other advertising products; production of news programs; the production and sale of audiovisual property rights; and teleshopping.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Jerôme Bodin

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