M6 Group Reports Revenue Growth in First Half of 2024

In the first half of 2024, M6 Group achieved consolidated revenue of €656.9 million, marking a 7.1% increase on a like-for-like basis. This growth was largely driven by TV advertising revenue, which rose 7.2% to €458.5 million, thanks to the recovery in the TV advertising market and the broadcast of Euro 2024 matches.

The group's new streaming platform, M6+, launched in May, has quickly gained traction, boasting an 88% brand recognition rate and a 39% increase in streaming revenue to €44.3 million. This contributed to a rise in overall streaming audience and engagement.

Despite these successes, M6 Group saw a 11.1% decline in consolidated EBITA to €120.1 million, mainly due to the higher costs associated with Euro 2024 and the investment in streaming services.

Additionally, M6 Group's equity-accounted entities posted a loss of €6.1 million due to ongoing investments in streaming technology, affecting overall profitability.

Looking ahead, M6 Group plans to continue its investment in M6+ and leverage its content strategies to bolster growth in a competitive market.