Following TF1’s announcement that it received’t provide monetary forecasting this yr, France’s second greatest business community, M6, stated it has additionally been vastly hit by the drop in promoting revenues attributable to the coronavirus pandemic.
M6 stated “the cancelations and delaying of promoting campaigns may have a significative influence on revenues, notably in the course of the second quarter.” M6 will give additional info on its promoting income and saving plans in its subsequent monetary report on April 28.
The group stated, with a purpose to deal with the implications of the disaster, it has “taken the required measures to cut back the prices, notably the price of its programming slate except for the suspending of sports activities occasions such because the Euro 2020.” The group additionally stated it might briefly cut back its workforce.
Together with the decline in adverting revenues, M6 stated it had additionally been affected by the shutdown of manufacturing and distribution of flicks carried on by its subsidiary SND, in addition to the manufacturing of TV applications dealt with by its different firms — Studio 89, C Productions and Golden Community. “The vast majority of the productions and broadcasting have been halted and can be postponed,” M6 stated.
Whereas shoots have stopped in the course of the nation’s lockdown, M6, like TF1 and the general public broadcaster France Televisions, continues to be filming newscasts and choose TV magazines throughout the TV, radio and digital providers owned by the group.
M6 stated it nonetheless has entry to credit score strains and was finalizing the sale of its German subsidiary iGraal to International Financial savings Group for 35 million Euros.
“The energy and variety of M6’s mannequin, in addition to the willpower of its collaborators will permit (M6) to organize for a stable jump-start after the tip of the sanitary disaster,” the corporate stated.
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