French broadcaster TF1 group has reported consolidated revenue amounted to €1.1 billion in the first half of 2025, stable year on year (- €1 million). The slight decrease in the Media segment (revenue down 0.9 per cent year on year to €975 million) was offset by an increase at Studio TF1 (up 6.4 per cent year on year to €128 million), driven by the contribution of Johnson Production Group (JPG).Current operating profit from activities (COPA) amounted to €131 million, up €2 million year on year. Margin from activities rose by 0.2 points to 11.9 per cent. Operating profit totalled €119 million, up €4 million year on year. That figure includes €7 million in amortisation charges relating to intangible assets arising from the JPG acquisition, and €5 million in non-recurring expenses relating to the Group’s digital acceleration plan.Net profit attributable to the Group excluding exceptional tax surcharge was €93 million, close to the level of 2024. The €3 million change was mainly related to the year-on-year decrease in financial income due to lower market interest rates.The impact of the French 2025 Finance Bill was €14 million in the first half of 2025, of which €10 million related to the exceptional contribution with respect to 2024 (recognised in the first quarter of 2025). Net cash amounted to €473 million at end-June 2025, up €26 million year on year.In the first half of 2025, the TF1 channel benefited from the return of popular entertainment franchises (Dancing with the Stars, Koh-Lanta and Secret Story) and the hit series HPI (peak audience of 7.8 million), successful new dramas such as Carpe Diem (peak audience of 6 million for the first episode) and the French football team’s strong performance in the UEFA Nations League tournament (6.6 million viewers for the semi-final match against Spain). As a result, TF1 maintained its leadership across all targets.The TF1 channel also maintained a significant lead over its main commercial competitor:
- ahead by 9.2 points in the W<50PDM target, with an audience share of 22.9 per cent;
- ahead by 7.7 points among individuals aged 25-49, with an audience share of 20.3 per cent.
The Group’s news offering performed very well, with TF1’s 1pm and 8pm news bulletins keeping a significant lead over their nearest rivals, while the morning show Bonjour! became France’s third most popular morning show and will be extended by 30 minutes starting in September.In addition, for its first month on channel 15 following the renumbering of DTT channels that took effect on June 6th, LCI recorded its highest audience share for two years, reaching 2.4 per cent in the 4+ target.Streaming platform TF1+ attracted 35 million streamers per month on average in the first half of 2025, and hit a new monthly record of 39 million streamers in June. Overall, streamers watched 559 million hours of content on TF1+ in the first half of 2025 according to Médiamétrie, 1.4 times the figure achieved by the second-ranked platform. Based on site-centric figures, consumption rose by 11 per cent year on year.Revenue in the Media segment totalled €975 million in the first half, down slightly by 0.9 per cent year on year:
- Advertising revenue was down 2.5 per cent year on year at €782 million in the first half. After a stable first quarter, increasing macroeconomic uncertainties since the start of April 2025 adversely affected spending by advertisers. In addition, the first half of 2024 had been a particularly strong period for the Group, with a buoyant market and the broadcasting of the Euro football tournament.
- Nevertheless, TF1+4 confirmed its appeal for advertisers and maintained its strong growth momentum (revenue was up 45 per cent year on year in the second quarter) to reach €92 million in the first half.
- Non-advertising revenue in the Media segment amounted to €193 million, up 6.1 per cent year on year, driven by the good performance of interactivity and music and live shows.
Programming costs were €451 million in the first half, illustrating the Group’s efforts to maintain premium programming. The slight year-on-year decrease of €8 million was due in particular to the high base for comparison arising from the Euro 2024 football tournament.Studio TF1’s revenue totalled €128 million in the first half of 2025, up 6.4 per cent year on year. It included an €11 million contribution from JPG, where activity is mostly skewed to year-end.
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