Dori Media Releases First-Half Results

TEL AVIV: Revenues at Dori Media Group for the first half of the year were down 8.6 percent to $25.4 million, with a profit before tax of $1.4 million, down from last year’s $4.3 million.

“As predicted, the first six months of 2009 have been difficult," said the company’s president and CEO, Nadav Palti. He noted a reduction in the company’s revenues from the sale of novela broadcast and format rights, from $11.9 million to $5.9 million. Content sales represented 24 percent of total revenues, as compared with 43 percent last year.

Palti, however, stressed the health of Dori Media’s channels business. "TV channel revenues remain strong and continue to grow in spite of a difficult opening to 2009." The channels brought in $18.8 million—a 34-percent rise.

Palti continued: "We are well prepared to withstand the tough economic environment thanks to our diversified income streams, including multi-year agreements for the carriage of TV channels in Israel and Indonesia, and our growing library of telenovela programming, including Lalola, which has been sold to more than 69 countries and new award winning productions such as Amanda O, which has been sold to 23 countries within six months of its launch and Champs 12, which was sold to 19 countries in only four months. Our international sales account for 19 percent of total sales, with Asia showing very healthy levels of sales growth. We are currently exploring further production partnerships in the Far East, which has the potential to be a vast and growing market for telenovelas."