William Malcolm

TV Nova Sees Profits Rise Despite Covid Revenue Hit

Nova television group increased its net profit by seven percent to 865 million crowns in 2020. Revenues fell by four percent to CZK 5.24 billion. The reason for the decline is the reduction in advertising revenue in terrestrial broadcasting. This follows from the company’s annual report. The company will transfer the entire profit to the account of retained earnings from previous years. At the end of last year, the investment group PPF acquired CME.

Due to the coronavirus pandemic, television had to temporarily stop producing many formats, and its employees had to partially move to work from home. “The main priority of the company for 2021 remains television broadcasting and maintaining a leading position in the share of viewership in the target group of 15-54 years,” said executives Klára Brechtlová and Štěpán Peichl.

Advertising revenues formed a decisive part of television sales. Revenues from terrestrial advertising fell by 6.5 percent to 3.98 billion crowns, revenues from Internet advertising rose by 0.4 percent to 252 million and revenues from the sale of commercial communications increased by 0.8 percent to 511 million. Cable TV subscription revenue increased 17.5 percent to 410 million.

The group’s programs had a total daily viewership in the group of viewers between the ages of 15 and 54 of 33.6 percent, and in the main evening broadcast time of 36.4 percent.

The new owner of PPF already controls the O2 operator in the Czech Republic, which operates the O2 TV internet television. After the takeover, the new owner focused on the future strategy of the original television production and the acceleration of the digital transformation.

TV Nova has free-to-air stations Nova, Nova 2, Nova Cinema, Nova Action, and Nova Gold, premium stations Nova Sport 1, Nova Sport 2, and Nova International, and station Nova +1, which offers a TV channel program with a shift of one hour. In addition, it operates the Nova Plus and Voyo portals.