Groupe M6 Aims To Double Streaming Revenue By 2028
While Groupe M6's net profit rose by more than 42 percent last year, revenues and operating profit declined in line with the market trend. Upon presenting its balance sheet, the company also announced a streaming offensive.
Groupe M6 increased its net income in the 2023 financial year by 42.9 percent year over year to €231.7 million. This was announced by the French media group yesterday evening after the close of trading in Paris. In the same period, the company's revenues fell by three percent, from €1.357 billion to €1.315 billion. EBITA amounted to €300.7 million after €336.2 million in the previous year, yielding an operating margin of 22.9 percent.
Groupe M6's advertising revenue fell by 1.5 percent to €1.083 billion, which, according to the company, roughly corresponds to the decline in the French advertising market. Non-advertising revenue fell by nine percent to €248.6 million. On a comparable /like-for-like basis, however, taking into account the sale of several parts of the company, these revenues increased by 2.5 percent year-on-year.
Despite a slight decrease of 3.5 percent in average viewing time, television remains the most popular and most user-intensive medium in France, at 3 hours and 12 minutes (per day). Groupe M6’s channels - M6, W9, 6ter and Gulli - grew their market share more than any other channel group last year. In the advertisers’ preferred demographic of 25- to 49-year-olds, the market share amounted to 20.5 percent. M6 also maintained its position as number two in this audience group. In addition to the long-running hit "L'amour est dans le pré,“ the most successful programs of the past year included the magazine shows "Capital" and "Zone interdite,“ as well as recently launched format "Les traîtres".
In the young demographic of under-35s, 6play was the most popular streaming platform in France. Streaming accounted for a total of 518 million viewing hours, corresponding to 5.5 percent of the group’s total. In this connection, Groupe M6 announced an expansion of its streaming activities and the launch of a new platform. The company pledged to invest €100 million in the expansion of streaming over the next four years in order to double revenue and usage in this area by 2028, with breakeven to be reached in 2027.
In terms of content, the highlights of the new TV year will once again include soccer, which has been a safe bet in M6’s program lineup for many years. The channel will broadcast half of the 25 matches of the European Football Championship in Germany, including the final, one semi-final, and two quarter-finals. If the French national team qualifies for the quarter-finals, M6 will broadcast that match as well.
