FremantleMedia CEO Outlines Recession Strategy

CANNES: Speaking to the press at MIPTV this morning, Tony Cohen, the CEO of FremantleMedia, outlined the company’s strategy for weathering the economic downturn, with plans to continue investments in top-quality content and eyeing further acquisitions following the purchase of a 75-percent stake in Original Productions.

“Despite the current economic climate and the challenges broadcasters face, audiences still want to be entertained,” said Cohen. “Television audiences for our programming are growing around the world. We know that because our research shows that viewership of our entertainment series has been growing year over year, particularly last year. Viewers tune in because we are one of the largest creators and producers of entertainment brands globally. Last year was our busiest year ever because we create shows that audiences want to watch.”

Outlining short- and longer-term plans for navigating the recession, Cohen stated: “FremantleMedia continues to invest in new development, innovative content and creative partnerships. We will also look to pursue beneficial acquisitions like our recently announced deal with Original Productions.”

Cohen added that 2008 was FremantleMedia’s best ever, with record revenues of 1.2 billion euros and an 18-percent gain in overall EBITDA to 155 million euros. Last year, the company produced more than 10.000 hours of programming, including Got Talent, sold to 28 countries; Idols sold to 42 countries; and Hole In The Wall, sold to 32 countries. The company also produced a range of successful dramas last year, including Gute Zeiten, Schlechte Zeiten (Good Times, Bad Times).