The production of new content for the linear channels of the CME television group, which includes TV Nova, as well as for the Voyo service, was reflected in a 20 percent increase in production hours last year.
Revenues of the Central European Media Enterprises (CME) television group, which includes the domestic TV Nova, increased by almost 12 percent last year to EUR 868 million (approx. CZK 21.4 billion). Operating profit was also higher, reaching EUR 220 million (+6%), while net profit fell slightly to EUR 108 million, or approximately CZK 2.7 billion (-22%). The results were published by parent group PPF in its annual report for 2023.
Pressure to produce new original content is growing, with CME increasing production hours by 20% year-on-year last year. In total, it was preparing a hundred projects for linear broadcast and the Voyo platform in 2023. At the same time, it strengthened its sports content offering by investing in additional broadcast rights (notably Formula 1 in the Czech Republic and the Champions League in Slovenia).
According to the report, pay video-on-demand (SVOD) services continue to progress rapidly in response to rising consumer expectations. CME continued to expand its Voyo platform, with 34 first-run originals launched by the end of 2023. Voyo is already present in all the Group's countries, with a launch in Croatia in August 2023. "In most of its markets, Voyo is the third best SVOD service provider and the number one local provider," the report adds.
At the end of February this year, CME recorded one million subscribers to Voyo's service in all markets. In the Czech Republic and Slovakia alone, it recorded 820,000 subscribers this March.
PPF Group's net income from media activities also increased to EUR 391 million (approx. CZK 7.9 billion) last year, an 8% year-on-year increase.
"Since its acquisition by PPF Group in 2020, CME has grown into the largest, healthiest and most important broadcaster in Central and Eastern Europe, well positioned for expansion and growth," the annual report said. CME operates in six markets: the Czech Republic, Slovakia, Croatia, Bulgaria, Romania and Slovenia.
Source: mediaguru.cz
