Industry

TF1 Group delivered stronger-than-expected first-half 2026 results, highlighting the growing contribution of its digital business as traditional television advertising continues to face significant pressure. While consolidated revenue declined to €993 million, the French media company maintained profitability in line with its annual objectives and confirmed its outlook for the remainder of the year. The company's digital operations remained the clear growth driver. TF1+ advertising revenue rose 18.6% year-on-year to €109 million, contributing to an overall 17.1% increase in digital revenue, which reached €134 million. The streaming platform attracted an average of 42 million monthly streamers, peaking at 44 million in June, while its launch on Netflix generated record daily audiences and is expected to further strengthen performance during the second half of 2026.

At the same time, linear advertising revenue fell 8.7% as advertisers navigated a difficult economic backdrop, geopolitical instability and the exceptional competitive impact of the FIFA World Cup. Nevertheless, TF1 retained its leadership among France's key commercial audiences and maintained an advertising market share broadly in line with the previous year.
Studio TF1 reported revenue of €124 million, reflecting a production schedule weighted more heavily toward the second half of the year. The division continued to diversify its client base through collaborations with broadcasters and global streaming services, while also expanding its theatrical distribution activities following the successful release of Pour le Plaisir (Good vibes only).

Backed by a net cash position of €432 million, TF1 plans to build on the early success of its Netflix partnership, grow its advertising business through TF1 Ad Manager and accelerate the expansion of its micropayment ecosystem. Despite continued pressure on the linear advertising market, the Group reiterated its objective of delivering strong double-digit digital revenue growth while maintaining a mid-to-high single-digit operating margin throughout 2026