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TVN how much the management board earns, salary, revenues in 2020

Advertising revenues, constituting the vast majority of revenues TVN group, decreased year on year from PLN 1.46 to 1.29 billion, while the revenues from sponsoring – from PLN 200.27 to PLN 171.98 million (in all graphics in the text the amounts are in PLN thousand).

Last year, due to the economic recession after the outbreak of the epidemic, the value of the Polish advertising market decreased by 8.6 percent. to PLN 9.97 billion, and the TV advertising segment itself decreased by 10.1 percent. up to PLN 3.94 billion.

Less from advertising, more from internet users and operators

On the other hand, subscription revenues increased from PLN 254.55 to PLN 286.02 million. These are revenues mainly from digital platform and cable TV operators as well as from VOD subscriptions. In August last year the then president of TVN said that the Player platform belonging to the broadcaster had 375 thousand. paying users, and in February this year. a fully paid offer was introduced in it.

Other revenues of the TVN group decreased from PLN 151.38 to 118.84 million. These are mainly revenues from production and technical services, rental, sale of programming rights, cinema distribution, audioteles and SMS messages.

TVN’s revenues from the Discovery Group (mainly from the sale of programming rights as well as technical and marketing services) decreased year on year from PLN 108.22 to 76.19 million, from Canal + Polska (mainly from subscription, programming rights, technical and marketing services) increased from PLN 39.77 to 42.62 million, and from entities in which Discovery holds minority interests – from PLN 30.02 to 30.68 million.

Costs 6 percent Down

The operating expenses of the TVN group decreased from PLN 1.44 billion to PLN 1.36 billion, i.e. by 5.7%. The depreciation and impairment costs of capitalized in-house production, co-production and cinema production costs decreased from PLN 593.19 to PLN 499.87 million, and the amortization and impairment costs of the purchased programming licenses – from PLN 140.25 to PLN 135.19 million.

On the other hand, the costs of goods and services sold went down from PLN 63.75 to PLN 33.41 million, and the expenditure on broadcasting TV programs – from PLN 12.56 to PLN 6.71 million.

On the other hand expenditure on salaries and employee benefits increased from PLN 218.97 to PLN 221.67 million (of which the costs of the incentive program for key managers – from PLN 3.61 to 5.57 million). The members of the company’s management board earned last year PLN 13.14 million, compared to PLN 20.25 million a year earlier.

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At the end of last year the entire capital group employed 1,639 full-time employees, 14 more than the year before. In the fall of last year President Piotr Korycki and members of the management board, Tomasz Marszałł and Maciej Maciejowski, said goodbye to the company.

At the end of last year the broadcaster dismissed about 30 people at its headquarters and regional offices, incl. with TVN Media, employees of the technology department and engineers of broadcast vans, and at the beginning of this year. with a dozen or so people from the TVN24 editorial office, incl. Igor Sokołowski, Maciej Dolega, Aleksandra Janiec and Anna Kowalska.

Marketing and research costs incurred by the TVN group increased from PLN 84.51 to PLN 99.84 million, and of copyrights – from PLN 33.6 million to PLN 66.25 million. On the other hand, rental expenses fell from PLN 12.56 million to PLN 6.71 million.

In connection with the purchase of programming assets in 2021 and 2022, the TVN Group has PLN 122.99 million to pay, while in connection with the broadcast of channels on digital terrestrial television, it pays PLN 13.29 million annually.

32 percent Canal + shares worth PLN 716 million

TVN, through its advertising office TVN Media, has 32 percent. Canal + Polska shares. Last year received a dividend of PLN 97.17 million, compared to PLN 23.46 million a year earlier.

The value of these shares last year. decreased in TVN’s balance sheet from PLN 758.48 to PLN 716.49 million, which is the effect of an adjustment related to the introduction of the IFRS 15 accounting standard in terms of receipts from customers.

In November last year Canal + Polska announced a plan to enter the Warsaw Stock Exchange, TVN Media and its subsidiary Liberty Global (owns 17% of shares) wanted to sell their shares for a maximum of PLN 1.3 billion. However the prospectus was withdrawn “due to recent volatility in the financial markets”.

Lower profit, PLN 302 million for reserve capital

The profitability of the TVN group decreased significantly. Operating profit went down from PLN 671.47 to PLN 548.7 million, gross profit – from PLN 650.76 to PLN 542.89 million, and net profit – from PLN 540.57 to PLN 486.98 million.

The company paid last year PLN 55.91 million of income tax, compared to PLN 110.19 million a year earlier.

On a standalone basis, TVN recorded last year a decrease in sales revenues from PLN 1.73 to 1.59 billion and an increase in net profit from PLN 286.47 to PLN 302.97 million. Directly 100 percent of shares of the broadcaster is owned by the Dutch company Polish Television Holding, which in August last year. also absorbed the N-Vision company registered in the Netherlands, which previously had 53.3 percent. the sender’s shares.

Last week, at the general meeting of Polish Television Holding, it was decided that TVN’s standalone net profit will be fully transferred to the broadcaster’s reserve capital.

TVN Media revenues down 23%.

The TVN Media advertising office recorded last year PLN 215.71 million of sales revenues, after a decrease by 22.8%. from PLN 279.51 million in 2019.

Proceeds from brokerage activities decreased from PLN 265.98 to PLN 206 million, and other revenues – from PLN 13.62 to PLN 9.71 million. TVN Media sells the advertising offer of TVN Group Discovery, as well as several external broadcasters, incl. Canal + Polska, Viacom, The Walt Disney Company and FOX International. At the end of last year lost service Telewizja Puls, which established cooperation with Polsat Media.

TVN Media’s operating expenses decreased much less than revenues – by 13.9%. up to PLN 87.63 million. Expenditure on salaries and employee benefits decreased from PLN 53.72 to 50.15 million, on marketing and research – from PLN 11.32 to 5.35 million, and costs defined as other – from 17.59 to 14.63 million zloty.

TVN Media’s profitability is strongly affected by dividends from Canal + Polska. Operating profit increased from PLN 201.45 to 225.54 million, gross profit – from PLN 212.41 to PLN 230.64 million, and net profit – from PLN 184.06 to PLN 203.54 million.

TVN Media as the only shareholder of TVN Media decided that all of last year’s net profit will be used to cover the company’s previous losses.

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