The French commercial broadcasting group TF1 has reported a Q1 2007 net profit rise of 19% against the same period of last year. It was largely due to an increase in advertising revenues, coupled with decreasing programming costs. The broadcaster predicts further growth of advertising revenues to the tune of around 6% for the year.
First-quarter net profit rose to €88.5 million (from €74.5 million). The increase in income from advertising is noteworthy as some industry analysts predict a decrease as a result of increased usage of PVRs and on-demand services. The TF1 announcement follows a similar increase in ad spending on traditional advertising on Dutch commercial broadcasters.
The company also announced the expected appointment of Nonce Paolini as chief executive to replace Patrick Le Lay, who will remain as chairman.