Net Profit Drops at Antena 3

MADRID: With revenues down by 8.6 percent in the first half of the year to 384.7 million euros, Spanish broadcaster Antena 3 reported a net income for the period of 17.9 million euros, a 66.8-percent reduction on the first half of 2011.

The broadcaster noted that its television revenues were 332.8 million euros in the period, a 7.1 percent fall from the year ago period, with ad revenues down 7.4 percent to 321.9 million euros. Antena 3 noted that it held up comparatively well given the economic conditions in Spain, where television ad revenues in the first half of the year fell by 16.5 percent.

With viewership increases in the period, Antena 3 says it has a 33 percent share of the television ad market, up by 3 percentage points. Telecinco’s share of the market in the first half was 45.4 percent.