TF1 takes in €1.0257bn in first half of 2014 (+0.6%), in "economic environment that remains tough"

French TV group TF1 had a turnover of €1.0257bn in the first half of 2014 (from 01/01 to 30/06/2014), a 0.6% growth "in an economic environment that remains tough and unstable," the company said on 25/07/2014.

The group's advertising turnover was at €769.9m on 30/06/2014, down €12.6m (or 1.6%) compared to the first semester of 2013 (€782.5m), "with no recovery in demand as yet", said TF1.

The turnover for other activities was at €255.8m on 30/06/2014, a 7.8% growth in one year (€237.2m on 30/06/2013). "Growth was largely due to the resale of 2014 World Cup rights, which more than offset revenue erosion at TF1 Vidéo and lower interactivity revenue on less attractive programming in the early part of the year than in 2013," said TF1.

TF1 held the broadcast rights for the entire World Cup in Brazil (from 12/06 to 13/07/2014), acquired for €130m, but sold these rights to pay-TV group beIN Sports France for €50m whilst keeping the broadcast right for 28 matches in the tournament.

The TV group had an operating profit (EBIT) of €24.2m in the first half of 2014, a 43.2% decrease in one year…