First half of 2019 sees Italian broadcaster bank €108.9m profit despite ads dip. Getty Images Mediaset, the largest commercial broadcaster in Italy, has recorded a drop in revenues of close to €300 million (US$330 million) for its domestic operations following its first season without rights to the Uefa Champions League, according to a financial filing for the first half of 2019. The filing reveals a fall in Mediaset’s Italian revenues from €1.297 billion (US$1.42 billion) to €1.002bn (US$1.1 billion) in the first half of 2019, while the company’s Spanish operation also saw a drop in revenue from €508m (US$556.8 million) to €482m (US$528.3 million) compared to the same period in 2018. Meanwhile the company’s net profit grew substantially from €42.8 million (US$46.9 million) to €108.9 million (US$119.3 million). Mediaset lost out in a bid to retain media rights for European soccer’s premier club competition in June 2017, as pay-TV broadcaster Sky Italia bagged an exclusive contract for the Champions League and Europa League competitions. Sky’s deal keeps the competitions on its channels through to the end of the 2010/21 season, though Mediaset has regained free-to-air (FTA) rights to the Champions League as part of a sub-licensing agreement, which was upheld after appeals made by Italy’s public broadcaster Rai were rejected in court. In the period without Champions League coverage, Mediaset also felt a drop in its overall advertising revenues, which fell from €1.1 billion (US$1.21 billion) in the first of 2018 to €985.2 million (US$1.08 billion) in 2019. Mediaset’s operating costs in Italy were also down from €1.29 billion (US$1.4 billion) from €1.68 billion (US$1.84 billion), apparently linked to reduced expenditure around its coverage for the 2018 Fifa World Cup, for which Italy didn’t qualify.
Italian broadcaster Mediaset has reported a decline in revenues of $330m ( $330m ) to € 1bn for its domestic activities during the end of season , after losing out to Sky Italia for the media rights to the Champions League and Europa League in 2017 . Europa League secured the rights until 1bn 2020/21. However, Europa League won free-to-air rights to the Champions League when a sub-licensing agreement was upheld in court.