Constantin Medien Nine-Month Revenue Down
Revenue Down 10 Pct as Licensing Business Still Slow
COLOGNE, Germany – European broadcasters are riding the wave of an advertising recovery but producers and licensers are still feeling the recession’s bite.
That was evident in nine month figures from Constantin Medien, the holding company that controls German indie giant Constantin Film and Swiss group Highlight Communications. Revenue was down 10% at 356.3 million Euros ($486 million) and while Constantin cut its losses, the group still ended Q3 in the red to the tune of 1.3 million Euros.
Constantin makes most of its money from selling film, TV and sports productions to broadcasters, and recession-led, belt-tightening has pinched margins. Constantin’s film division saw a 17% drop in sales to 155 million Euros. Revenue at its sports division fell 11% to 110 million Euros.
The only bright spot was Constantin’s sports and events marketing operation, which handles marketing rights to the UEFA Champions League and the Eurovision Contest, earned 55 million Euros so far this year, 12% up on the same period in 2009.
For the full year, Constantin expects revenues to come in between 440 million Euros to 460 million Euros and to book a loss of between 12 million Euros to 14 million Euros.