The new edition of the Media & Entertainment reports di Mediobanca Studies Area which analyzes ithe media sector in Italy and worldwide.
The report analyzes the performance from 2019 to 2022 of the main Italian groups and 20 major private players in the world, of which 9 are based in the US, 8 in Europe and one each in Japan, Mexico and South Africa. There is also a comparison between the major European public broadcasters.
Media: +8,2% global revenues in 2022
I revenues of the leading international companies in the sector are grew by 8,2% compared to the same period in 2021. The turnover total amounts to 324,1 billion of Euro (+ 12,2 % compared to 2020). The main driving force is it streaming which further increases the market share and is now worth around 17% of the total turnover.
Among the top 20 players, the85% of revenue is generated by American operators with six of them included in the Top10 of the ranking by turnover led by Comcast. The first non-American group is the French Vivendi seventh with 9,6 billion euros in revenues. The other Europeans in the top 10 are the Luxembourgian RTL Group ranks ninth (6,6 billion), followed by ProSiebenSat.1, tenth with 4,5 billion.
THEebit margin it stood at 12,5% (-0,7% compared to 2021). The top six operators in terms of above-average profitability are five Americans and one French (TF1, 13,7%). They are in first place Fox To 24,5% AMC Networks to 22,5% e Netflix at 21,4%. The worst performance comes from ProSiebenSat.1 which marked a -13,2%.
The receipts from production and distribution of content (+4,1%, equal to 18,4% of revenues), and the advertising revenue (+2,0%, equal to 19,8%).
Subscriptions to the company decreased by 4,9% (19,7% of the total). Traditional Pay TV.
Media: streaming grows +14,8%, Netflix queen of subscribers
It grows still it streaming. In one year the subscribers to the platforms have increased by 18,6%. The first global player results Walt Disney with almost 236 million subscribers (25,6% of the market with its three platforms Disney+ (17,9%), Hulu (5,1%) and ESPN+ (2,6%). For single platform she confirms herself Netflix with 223 million subscribers (rising to 230,7 at the end of 2022), equal to 24,3% of the market, ahead of Premium Video (22,8%), Warner Bros. Discovery (10,3%) and Paramount Global (7,2%).
Average Italy: Revenues down by 4%
For the whole of 2022 it is estimated a 4% decrease of the total revenues of main Italian operators of the sector. The contraction of traditional Pay TV and the slowdown in advertising sales (which should close the year with -5%) weigh heavily.
Il turnover it was 8,5 billion euros in 2021, a figure still lower than the 8,7 billion in 2019 (-2,6%), but still in growth of 4,6% on 2020 (8,1 billion).
I first three operators in our country are confirmed Rai, Sky e Mediaset which develop beyond80% of the total revenue. Rai is first with 2,7 billion (+6,7% on 2020), followed by Sky with 2,5 billion (-10,4%) and Mediaset with 2 billion (+11,7%). The streaming grows also in Italy which now develops 32,3% (more than double compared to 2019) of the total revenues of pay TV. It still goes up Netflix Italy which now has almost 5 million subscribers (+50% compared to 2019) and a turnover estimated at around 550 million (+35% compared to 2020 and +70% compared to 2019).
Media Italy: Rai has the lowest license fee in Europe
The Mediobanca survey shows that the Rai license fee è below average of those of European public televisions: 0,25 against 0,32 euros per day per subscriber. German public television (0,58 euros per day), the British (0,5) and the French (0,38 euros) are much more expensive for taxpayers.
Only the86% of the fee (equal to 77,8 euros out of the 90 expected) is collected by Rai with the State retaining approximately 270 million Euros, an incidence also in this case lower than the European average (90,5%).
Also confirmed for 2023 the fee of 90 euros in the bill.
As far as the profitability la Rai is first in Europe in terms of ebit margin with the 3,6% (-0,2 points on 2020), followed by Great Britain (3,2%) and 2,5% by Spain (the only one to improve since 2020). Only France was negative with -1,1%.
In the 2021 i Rai revenues they attest to 2,6 billion euros, of which 1,82 billion derived from the license fee (68,6%). Less than a third of the 8,9 billion of German public television, of which 8,1 from license fees (90,8%).
