Romanian operations of CME, which owns PRO TV, moved up by 4.8 pct to USD 81.3 mln in H1

Central European Media Enterprises (CME), the media group which owns in Romania several TV stations including PRO TV, said its net revenues increased by 3 percent to USD 304.2 million in the first half of this year, against the same period of 2015.

In the second quarter, CME saw its revenues grow by 3 percent. The media group said that in the first six months, TV advertising revenues increased by almost 4 percent, which included significant growth in Romania and the Slovak Republic.

In Romania, the revenues in the second quarter rose by 11.1 percent to USD 48.9 million. The TV advertising revenue grew by 14.8 percent to USD 37.8 million in the second quarter, while the carriage fee & subscription revenues added 1.7 percent to USD 10.2 million. The other revenues amounted to USD 1 million.

The group had in Romania a prime time audience share of 29 percent, while the all day audience share stood at 25 percent, slightly above the levels of the first quarter.

CME held 60 percent of the total ad market share in Romania, while Intact Group had 23 percent in Q2.

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In Romania, CME has nine channels: PRO TV, PRO TV International, Acasa, Acasa Gold, PRO Cinema, Sport.ro, MTV Romania, PRO TV Chisinau and Acasa in Moldova.

The group said that in the six markets where it operates, TV continues to have the broadest reach and capture the highest share of advertising budgets.

The operating income before depreciation and amortization (OIBDA) in Romania amounted to USD 32.4 million in the first half of 2016, up 72.7 percent compared to the same period of 2015.

The group’s OIBDA went up by 21.4 percent to USD 70.7 million in the first semester.

More than 50 percent of the ad expenditure went for TV in 2015, according to Group M. The internet and print had shares of 17 percent and 15 percent, respectively, in the CME markets.

Ovidiu Posirca