Mediaset has endured a tough first quarter with pressure on both advertising and subscription revenues.
The shining star of the Mediaset Premium DTT platform saw revenues fall from €135 million to €131.1 million. At the same time advertising sales in the company’s home market of Italy witnessed a 10.2 drop, falling to €693.3 million.
Spain fared no better with gross television advertising revenues coming in at €221.3 million, compared with €267.8 million in Q1 2011.
The company blamed the recession in Italy and Spain, but said that the European Football Championships and the Olympic Games could increase the dynamism of an advertising market that continues to suffer from poor visibility and a high level of volatility.
A three-year efficiency plan has been put in place, designed to reduced operating costs across all business areas.