TF1: Adapting to Streaming Platforms and 2024 Financial Results

TF1 is a major French media group, traditionally strong in television broadcasting through its channels TF1, TMC, and LCI. However, the rise of streaming platforms like Netflix, Amazon Prime Video, and Disney+ has transformed the media landscape, challenging TF1's position and forcing the group to rethink its strategies.

H1 2024 Financial Results

For the first half of 2024, TF1 reported €1.08 billion in revenue, a slight increase compared to 2023. Net profit reached €112 million, showcasing growth despite uncertainties in the advertising market. This performance is largely due to the group's diversification, particularly through investments in content production via Newen Studios, and the strengthening of its digital offerings.

Growing Competition from Streaming Platforms

In recent years, TF1 has faced increasing competition from streaming platforms like Netflix, which continue to draw viewers and advertising revenue, reshaping content consumption patterns.

Impact on viewership: The rise of streaming has led to a gradual decline in traditional TV viewership, especially among key demographics like the 15-34 age group, a critical audience for advertisers.
Loss of advertising market share: As viewers migrate to streaming platforms, advertising budgets follow, posing a challenge for traditional broadcasters like TF1, whose economic model heavily relies on linear TV ads.

How TF1 is Adapting to These Challenges

To face these disruptions, TF1 has implemented several adaptation strategies:

Development of its digital offerings: Through MYTF1, the group offers an online platform for on-demand content, catering to the growing demand for flexible viewing.
Investments in original content production: Through its subsidiary Newen Studios, TF1 has enhanced its production capabilities, focusing on high-value original series and films aimed at both domestic and international markets.
Partnerships with streaming platforms: TF1 has also forged collaborations with platforms like Netflix and Amazon Prime Video to co-produce and distribute some of its key content.

The Aborted Merger with M6: A Missed Opportunity

In 2022, TF1 sought a merger with M6 to consolidate its market position and better compete against streaming platforms. However, the merger was blocked by the competition authority due to concerns over excessive concentration in the TV advertising market. Despite this setback, TF1 continues to explore ways to strengthen its business and diversify revenue streams in a rapidly evolving market.

Conclusion

Facing increasing competition from streaming platforms and a shifting market, TF1 has adapted by developing its digital services and investing in original content. With solid financial results for H1 2024, the group continues to innovate to maintain its leading position while tackling the challenges of a dynamic media landscape.

You will find attached to this article the presentation file for TF1.