France’s TF1 Group posted half-year revenue of €1.1B ($1.3B), with dips at its media arm offset by growth at its newly refurbished studios division.
The HPI broadcaster, which recently struck a game-changing carriage deal with Netflix in France, saw its operating profit rise €4M year-on-year to hit €119M. That includes €7M in amortization charges related to its acquisition of Canadian producer-distributor Johnson Production Group (JPG), which was acquired a year ago. Net cash was €473M.
Studio TF1, the new name of the Newen Group, made €128M in consolidated revenue, with JPG’s €11M contribution singled out as a driver. This was up 6.4% year-on-year, with the rest of the studio remaining “broadly stable.”
TF1 pointed to shows such as new soap Tout Pour la Lumière (All for Light), the Flemish version of Dancing with the Stars and Netflix documentary series De Rockstar à Tueur: Le Cas Cantat (From Rock Star to Killer) and theatrical releases of the films Jouer Avec le Feu (The Quiet Son) and Avignon as standouts. HPI, which was remade in the U.S. for ABC as High Potential, was among a batch of shows flagged as driving ratings.
Studio TF1 posted operating profit from activities of €6M, which was up €2M despite additional set-up costs in the first quarter. TF1 predicted Studio TF1 America, which comprises Canada-based Reel One and JPG, and the company’s distribution business would help a “back-loaded” year, similar to 2024.
The media division, which houses the TF1 linear network, was down slightly (0.9%) to €975M, with advertising revenue coming in at €782M for H1. This, the company said, reflected a “stable first quarter” followed by “increasing macroeconomic uncertainties since the start of April.” It also noted the 2024 UEFA European Championship had dragged down year-on-year performance. Programming costs came in at €451M, which was an €8M decrease.
Despite the various challenges operating profit from activities in the unit was €125M, similar to H11 2024.
Looking ahead, TF1 pointed to a micro-payments tool being added to streamer TF1+ in September, which would continue to position the company as “a premium alternative to YouTube,” and an expansion of the service in 21 African countries.
It also looked further ahead to start of the Netflix pact in summer 2026. “This unprecedented alliance will enable the Group to extend its coverage, allowing its TF1+ platform to reach new audiences and opening up new horizons in terms of advertising,” said the company.
TF1 also noted it had entered talks with IEVA Group to sell its stake in e-commerce group My Little Paris and was set to cede control of live events and music business Play Two to Believe, which has exercised an option to increase its stake towards 100% ownership.
