TV 2 boosts revenue and gains Play subscribers

Danish commercial public service broadcaster TV 2 announced a 5% revenue increase for the first six months of the year, reaching 2.2 billion Danish kroner (approximately $318 million USD). This growth outpaced the 2.1 billion kroner reported in the same period last year.

The company attributed the improved financial performance primarily to its digital operations. Subscription revenue climbed 5.6%, largely fueled by an increase in subscribers to its streaming service, TV 2 Play. Advertising revenue also saw a modest rise of 4.6%. However, the number of households subscribing to traditional TV packages continued to decline.

Jakob Fink, TV 2's finance director, highlighted the broadcaster's strength in combining news, programming, and sports. "The first half-year clearly shows what TV 2 is here for," he stated. "When Danes come together for major news events, strong Danish programs, and widely engaging sports, we succeed in the public service task that is about both content and reaching Danes wherever they are."

Buoyed by the positive revenue trend, TV 2 has upgraded its full-year earnings forecast. The expected earnings before interest and taxes (EBIT) have been raised from 275-300 million kroner to 325-350 million kroner. The company cited a more favorable revenue development than initially projected.

Despite the revenue growth and improved outlook, TV 2's net profit after tax for the first half of the year was 206 million kroner, a decrease from the 244 million kroner earned in the same period last year. This decline was attributed to increased costs associated with covering major events, including the FIFA World Cup, the Men's European Handball Championship, and a general election.