M6 Group has reported a 5.5% decline in revenue to 297.7 million euros for the first three months of 2026, a period 'marked by a deteriorated economic environment impacting the video advertising market'.
Against this backdrop, the media group's advertising revenue fell by 5.9% compared to Q1 2025, reaching 239 million euros, despite strong growth in streaming activity.
Non-advertising revenue decreased by 3.9% to 58.7 million euros; the increase in other video segment revenue only partially offset the decline in the production and audiovisual rights division, where cinema activity slowed during the period.
Driven by tight cost control, consolidated EBITA reached 49.1 million euros, up 1 million euros compared to March 31, 2025. This resulted in an operating margin of 16.5%, an increase of 1.2 percentage points year-on-year.
With the second quarter set to be dominated by the FIFA World Cup, M6 anticipates strong viewership and rising advertising revenue with a positive cash-flow effect. However, the event is expected to have a negative impact on operating profitability for the full year.
Furthermore, the group noted that its combined general meeting, convened today, will be asked to approve a dividend payment of 1.25 euros per share for the 2025 financial year, representing a yield of 10.3%.
Métropole Télévision is one of the French largest audio-visual groups. Net sales break down by activity as follows:
- operation of TV channels (79%): owns, at the end of 2025, 4 free-to-air channels (M6, W9, 6ter and Gulli), 9 pay channels (Paris Première, Téva, sérieclub, Canal J, Tiji, M6 Music, MCM, MCM Top and RFM TV) and 4 digital channels (M6+, M6+ Max, Gulli Max and Gulli Replay);
- operation of radio stations (12.4%): owns RTL, RTL2 and Fun Radio and broadcasts podcasts;
- program production and audiovisual rights marketing (5.7%);
- other (2.9%): marketing of related products, magazine publishing, event organizing, Internet site publishing, telemarketing, etc.
Net sales break down by source of revenue between sales of advertising space (82.2%) and other (17.8%; primarily sales of subscriptions, TV content and film content).
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