Groupe M6
Groupe M6, legally known as Métropole Télévision S.A., is a French media holding company headquartered in Neuilly-sur-Seine that operates television channels, radio stations, film production, and digital platforms.[1][2] Founded in 1987, it launched its flagship free-to-air channel M6 as France's first private nationwide television broadcaster, quickly establishing itself through targeted programming in entertainment, news, and sports.[3][4] Majority-controlled by RTL Group with a 48.3% stake, the company expanded to include 13 television channels and three national radio stations, emphasizing profitability and innovation in a competitive market dominated by public and legacy private broadcasters.[5][6] In 2024, Groupe M6 achieved consolidated revenues of €1.311 billion and an operating margin of 18.5%, reflecting resilience amid streaming disruptions and a failed 2021 merger attempt with Groupe TF1 blocked by antitrust regulators.[7][8]History
Founding and Launch of M6 (1987–1990s)
Métropole Télévision S.A., the foundational entity of Groupe M6, emerged from France's television liberalization efforts in the mid-1980s, when the government awarded concessions for new private national channels to diversify broadcasting beyond state-dominated services. The company was established through a partnership between the Compagnie Luxembourgeoise de Télédiffusion (CLT), a Luxembourg-based broadcaster, and the French utility firm La Lyonnaise des Eaux, with CLT initially acquiring a 25% stake to support the venture's financial and operational needs.[9][10] This structure leveraged CLT's European broadcasting expertise alongside domestic capital, positioning M6 as the fourth nationwide private channel amid the privatization of TF1 and the launch of competitors like La Cinq.[11] The M6 channel commenced broadcasting on March 1, 1987, at 11:15 a.m. CET, utilizing the sixth terrestrial frequency previously occupied by the experimental TV6 service, which ceased operations the prior day.[3] Nicolas de Tavernost joined as managing director at inception, overseeing initial operations from headquarters in Neuilly-sur-Seine. Early programming emphasized music videos, youth-oriented entertainment, and imported content to build viewership, drawing parallels to MTV's format while complying with French quota regulations for domestic production.[12] By 1988, the channel's potential reach extended to 18 million households, reflecting rapid infrastructure rollout via cable and aerial distribution.[10] Throughout the late 1980s and 1990s, M6 focused on stabilizing its market position amid intense competition, achieving a 9% national audience share by 1991 through targeted demographics and cost-efficient production.[11] A pivotal shift occurred in 1992, when diversified programming—including talk shows, reality formats, and sports—boosted ratings and profitability, enabling shareholder investments from CLT and Lyonnaise des Eaux to increase their stakes to 34% each for recapitalization.[10] The group formalized its public status with a listing on the Paris Bourse in September 1994, marking a transition toward broader multimedia expansion while retaining core television operations.[9]Expansion into Multi-Channel Portfolio (2000s)
In the early 2000s, Groupe M6 broadened its television holdings beyond the flagship M6 channel by entering joint ventures and pursuing acquisitions to access new distribution platforms and audience segments. On December 18, 2000, the group co-launched TF6, a generalist entertainment and family-oriented channel, as a 50-50 partnership with TF1; distributed primarily via satellite and cable, TF6 emphasized series, films, and light programming to complement M6's offerings.[13][14] In January 2004, Groupe M6 fully acquired Paris Première, a subscription-based premium channel specializing in uncut films, international series, and cultural content, enhancing its pay-TV portfolio previously limited to a minority stake since 1996.[9] This move targeted upscale viewers and bolstered content libraries for cross-promotion with free-to-air assets.[15] The decade's pivotal development occurred on March 31, 2005, when Groupe M6 introduced W9, its inaugural free digital terrestrial (DTT) channel, focusing on youth-oriented entertainment, extreme sports, reality formats, and music videos. As one of the earliest private DTT launches in France amid the national analog-to-digital shift, W9 rapidly gained traction, achieving significant audience shares and advertising revenue by leveraging M6's production expertise.[9][3] By September 7, 2009, Groupe M6 further diversified into children's programming through the acquisition of Gulli, the top-rated DTT kids' channel, plus five associated pay-TV channels from Lagardère Active. This transaction added family-friendly animated and educational content, expanding reach to younger demographics and reinforcing M6's multi-platform strategy across DTT, cable, and satellite amid rising competition from digital broadcasting.[9]Digital and Streaming Era Developments (2010s–Present)
In the early 2010s, Groupe M6 expanded its digital offerings by consolidating catch-up television services under the 6play platform, launched on November 4, 2013, which merged replay services from M6, W9, and 6ter channels to provide on-demand access to linear programming. This move aligned with growing consumer demand for flexible viewing, building on the initial M6 Replay service introduced in 2008. By the mid-2010s, 6play evolved into a core AVOD (advertising-based video on demand) platform, emphasizing free access funded by ads, which helped Groupe M6 capture a share of the burgeoning online video market in France.[16] To bolster its technological capabilities, Groupe M6 rebranded its internal streaming tech unit as Bedrock in 2020, forming a joint venture with RTL Group to develop scalable platforms for AVOD and SVOD services. Bedrock powered enhancements to 6play and supported broader digital distribution, including integrations with OTT providers. This investment reflected a strategic pivot toward proprietary technology amid competition from global streamers like Netflix, enabling Groupe M6 to control costs and innovate features such as personalized recommendations.[17][18] In October 2020, Groupe M6 co-launched Salto, a premium SVOD service in partnership with TF1 Group and France Télévisions, offering bundled content from public and private broadcasters to challenge international platforms. However, Salto struggled with subscriber acquisition and high costs, leading to its closure in March 2023 after failing to achieve scale in a market dominated by Netflix and Disney+. Groupe M6's exit from Salto underscored the challenges of joint ventures in fragmented European streaming, prompting a refocus on its own AVOD strengths. The launch of M6+ on May 15, 2024, marked a pivotal upgrade, replacing 6play with an expanded AVOD platform offering 30,000 hours of free content—including 10,000 exclusive hours, over 300 films annually, and 11,000 hours of series—accessible via app and web. Developed by Bedrock, M6+ introduced AI-driven search, short-form videos, and interactive features, doubling the prior catalog to enhance user engagement. In September 2024, M6+ partnered with Paramount's Pluto TV to distribute additional FAST (free ad-supported streaming TV) channels, broadening its ecosystem.[19][20][21] Streaming performance has shown robust growth, with hours viewed on M6+ (and predecessor 6play) rising 21% in 2023 and reaching over 1 billion cumulative hours by mid-2024. Revenue from streaming surged 34.2% to €99.5 million in 2024, comprising 9.6% of video division income, and continued expanding at 32.5% to €58.6 million in the first half of 2025. This trajectory supports Groupe M6's target of exceeding €200 million in streaming revenue by 2028, driven by AVOD efficiencies rather than heavy SVOD subsidies.[12][7][22] Complementing video streaming, Groupe M6 divested non-core digital assets in October 2023, selling its thematic online media division (including sites like Generali.fr and Aufeminin) to Prisma Media for focus on high-margin streaming and TV synergies. Over the prior eight years to 2023, its digital portfolio had grown to over 18 million unique monthly visitors, but the sale streamlined operations amid economic pressures.[23][24]Ownership and Corporate Structure
Major Shareholders and Ownership Changes
RTL Group S.A., a subsidiary of Bertelsmann SE & Co. KGaA, holds the largest stake in Métropole Télévision S.A. (the parent company of Groupe M6), with 48.26% of the share capital and 48.51% of voting rights as of December 31, 2023.[25] This position grants RTL Group effective control, supplemented by the chairman's casting vote in the supervisory board, while adhering to French regulatory caps limiting any single entity to under 49% of capital or voting rights for terrestrial broadcasters.[25] Other significant shareholders include CMA CGM S.A. at 10.27%, Silchester International Investors LLP at 9.82%, and employee holdings at 2.05%, with the remainder comprising free float at approximately 49.18%.[25] [26]| Shareholder | Share Capital (%) | Voting Rights (%) | Shares Held (as of Dec 31, 2023) |
|---|---|---|---|
| RTL Group S.A. | 48.26 | 48.51 | 61,005,661 |
| CMA CGM S.A. | 10.27 | Not specified | 12,984,778 |
| Silchester International Investors LLP | 9.82 | Not specified | ~12,413,879 |
| Free Float | 49.18 | Not specified | 62,169,089 |
| Employee Shareholding | 2.05 | Not specified | 2,594,378 |
Governance and Leadership
Groupe M6 employs a dualistic governance structure typical of certain French public limited companies (sociétés anonymes), featuring an Executive Board (Directoire) responsible for day-to-day management and strategic execution, overseen by a Supervisory Board (Conseil de Surveillance) that exercises permanent control and approves major decisions.[31][32] The Executive Board, comprising five individual members appointed by the Supervisory Board for renewable three-year terms, collectively bears liability for the company's operations, with no member exceeding age 75.[33] The current Executive Board, with mandates expiring in 2026, is chaired by David Larramendy, aged 50, who assumed the role on April 23, 2024, succeeding Nicolas de Tavernost after Larramendy's prior tenure as CEO of M6 Publicité since December 2014 and Executive Board member since February 2015.[33][34] Other members include Karine Blouët, 54, overseeing public affairs (appointed February 13, 2023); Guillaume Charles, 48, managing programming and content (appointed February 13, 2023); Henri de Fontaines, 49, handling strategy, transformation, and development (appointed February 13, 2023); and Hortense Thomine-Desmazures, 48, directing commercial activities (appointed April 23, 2024).[33] This composition reflects a 2023-2024 renewal, replacing prior members such as Thomas Valentin and Jérôme Lefébure to align with evolving media challenges.[35] Nicolas de Tavernost, who chaired the Executive Board from the company's founding in 1987 until his departure in April 2024, played a pivotal role in establishing Groupe M6 as a leading private broadcaster, navigating liberalization of French television and expansions into digital and production.[34] The Supervisory Board, which authorizes significant operations like major acquisitions, consists of 14 members as of 2025, including shareholder representatives, independents, and employee delegates, with mandates staggered to ensure continuity.[32] Elmar Heggen, 57, serves as Chairman (mandate to 2028), representing RTL Group, the majority shareholder via Bertelsmann; Marie Cheval, 50, acts as Deputy Chairwoman and independent member (to 2029).[32] Key committees include the Audit Committee for financial oversight, Remuneration and Appointments Committee, Social and Environmental Responsibility Committee, and Strategic Committee for competitive analysis.[32] Other notable members encompass RTL Group representative Philippe Delusinne (to 2028), CMA-CGM Participations via Stéphane Richard (to 2028), and independents like Nicolas Houzé (to 2029).[32]| Supervisory Board Role | Member | Mandate Expiry |
|---|---|---|
| Chairman | Elmar Heggen | 2028 |
| Deputy Chairwoman | Marie Cheval (independent) | 2029 |
| Member (RTL Group rep) | Philippe Delusinne | 2028 |
| Member (CMA-CGM rep) | Stéphane Richard | 2028 |
| Independent Members | Nicolas Houzé, Julie Walbaum, Patrick Béhar | 2029, 2027, 2027 |
Core Assets
Television Operations
Groupe M6's television operations form the core of its media activities, managing a portfolio of 13 channels broadcast primarily in France via digital terrestrial television (DTT), cable, satellite, and IPTV platforms. These channels collectively generated significant audience shares, with the four main free-to-air (FTA) outlets—M6, W9, 6ter, and Gulli—achieving 12.8% of total viewing across all audiences in 2024. Operations emphasize diversified programming, including general entertainment, reality shows, sports, and family content, supported by automated systems for ingest to playout across the network. The division also handles international content distribution through M6 International, reaching audiences in over 100 countries.[6][7]Flagship Channels (M6, W9)
M6, the group's primary generalist channel, launched on March 1, 1987, replacing TV6 and targeting a broad audience with entertainment, series, films, and reality programming. It maintained an 8.0% audience share in 2024, bolstered by primetime successes in unscripted formats. W9, established in 2005 as a secondary FTA channel, focuses on news, sports, music videos, reality TV, and comedy, securing a 2.4% share in recent seasons through targeted youth and event-driven content. Together, these channels anchor Groupe M6's commercial FTA presence, contributing the majority of television advertising revenue.[36][37][4]Themed and Children's Channels
Groupe M6 operates several themed channels, including 6ter (launched 2012), which provides family-oriented generalist programming; Paris Première, a premium outlet for cultural and upscale content; and Téva, geared toward women's lifestyle and dramas. Children's offerings dominate the youth segment, with Gulli as the flagship FTA channel for ages 3-14, featuring animation, series, and educational shows in partnership with original collaborations like France Télévisions. Pay-TV channels Canal J target older children with action and adventure, while Tiji focuses on preschoolers; these, plus the M6 Kid morning block, position the group as a leading provider in France's kids' market.[38][4][39]International and Former Channels
Internationally, Groupe M6 primarily exports content via M6 International, licensing flagship programs from M6, W9, and others to platforms in 100 countries, including adaptations for markets like Israel. Domestically, former channels include TF6, a generalist family joint venture with Groupe TF1 that operated from December 18, 2000, until closure on December 31, 2014; Fun TV (1998-2008), a music and youth channel; and M6 Music Rock (2005-2009). Seasonal ventures like La Chaîne du père Noël provide holiday-themed children's programming annually. These operations reflect strategic shifts toward streamlined FTA and digital focuses amid declining cable viability.[6][40][41]Flagship Channels (M6, W9)
M6, the group's primary generalist television channel, was launched on March 1, 1987, at 11:15 a.m. CET by Compagnie Luxembourgeoise de Télédiffusion (CLT), marking the debut of a commercial national broadcaster in France focused on entertainment, news magazines, and original programming.[42][3] The channel's inaugural broadcast featured the soap opera Clair de Lune, establishing an early emphasis on accessible fiction alongside varied content to attract broad audiences.[42] Over time, M6 has prioritized in-house production to control costs and secure key content, representing about 25% of its programming expenses while building iconic formats in information, sports, and reality television.[43] In 2024, M6 achieved a total audience share of 7.8%, with notable growth in prime time driven by football broadcasts and established shows, positioning it as a leader among historical generalist channels.[7] W9, launched as a free digital terrestrial channel on March 31, 2005, complements M6 by targeting younger demographics with a mix of reality television, American series, music, comedy, news, and sports highlights.[44] Owned by Groupe M6, it evolved from earlier satellite formats like M6 Music and focuses on dynamic, youth-oriented entertainment to expand the group's reach on TNT (digital terrestrial television).[44] Programming strategy emphasizes action magazines and reality formats appealing to women aged 15-29, contributing to W9's role as a top digital channel in commercial targets.[44] In 2024, W9 recorded a total audience share of 2.2%, maintaining stability amid competition while leading in categories like reality TV and comedy.[37] Together, M6 and W9 form the core of Groupe M6's free-to-air offerings, combining mass-market appeal with demographic segmentation to sustain viewer engagement and advertising revenue.[7]Themed and Children's Channels
Groupe M6 operates a portfolio of children's channels focused on age-specific programming, including the free-to-air network Gulli, which targets children with content emphasizing friendship, tolerance, happiness, and respect, and reaches 25 million homes across 11 countries. Complementing Gulli are the pay-TV channels Canal J, aimed at viewers aged 7 to 14 with youth-oriented animation and series, and TiJi, dedicated to preschool audiences under 6 with educational and entertaining shows; both were integrated into the group's offerings following their acquisition in 2019. These channels collectively represent the leading youth TV proposition in the French market, with strong audience performance among children, as evidenced by their consistent top rankings in viewership metrics.[39][38][45] The group's themed channels cater to specialized interests, including 6ter, a free-to-air multi-thematic outlet broadcasting entertainment, documentaries, reality formats, and series to broaden appeal beyond generalist fare. Pay-TV options like Paris Première provide premium content such as cultural programs, comedy, and original productions for upscale viewers, while Téva focuses on lifestyle, fashion, and female-targeted talk shows and dramas. Music-themed networks, including MCM for pop and urban genres, RFM TV for classic hits, and M6 Music for contemporary tracks, deliver targeted audio-visual experiences across cable and satellite platforms, contributing to the group's diversified revenue from niche advertising. In the first quarter of 2025, the combined audience share of M6's free-to-air channels, including 6ter and Gulli, reached 22.3% among commercial targets.[38][46][6]International and Former Channels
Groupe M6 maintains an international television presence primarily through M6 International, a curated programming service aggregating content from its core French channels for distribution abroad. This offering features signature formats such as adventure-reality series Pekin Express, docu-reality Les Marseillais, real estate competition Chasseurs d'Appart, fashion advice show Les Reines du Shopping, lifestyle magazine Happy & Zen, satirical news review La Revue de Presse, investigative journalism Zone Interdite, economic investigations Capital, current affairs 66 Minutes, automotive program Turbo, and science explainer E=M6.[47] Targeting French expatriates and francophone communities, the service delivers general entertainment in French via linear broadcasts and catch-up options, emphasizing lifestyle, culture, reality television, cooking, fashion, and news.[48] M6 International is distributed through point-to-point delivery on satellite, cable, and digital platforms, enabling access for French-speaking viewers worldwide. The broader Groupe M6 channel portfolio, including feeds and rights-licensed content from M6, W9, 6ter, Paris Première, and Téva, reaches audiences in over 100 countries, encompassing approximately 90 million households via international partnerships and operators.[6] This expansion supports the group's export of French-produced programming, though operations remain centered on expatriate markets rather than localized non-French services.[47] Regarding former channels, Groupe M6 has experienced few outright discontinuations of its broadcast television assets, with growth driven more by acquisitions—such as the 2019 purchase of youth channels Gulli, Canal J, and Tiji from Lagardère Active—than by closures.[49] Historical precedents include the 1987 transition from the short-lived TV6 France experiment, which ceased operations due to insufficient viewership, paving the way for M6's launch on the same frequency under a new commercial consortium.[50] More contemporarily, the group discontinued its Salto streaming joint venture with TF1 and France Télévisions on February 15, 2023, after its October 2020 launch failed to achieve scale amid competitive pressures, but this pertained to on-demand video rather than linear television channels.[51]Radio Holdings
Groupe M6's radio operations encompass three national stations—RTL, RTL2, and Fun Radio—acquired from RTL Group's French division on October 2, 2017, as part of a strategic realignment that transferred full ownership to M6 while maintaining integration within the broader RTL Group ecosystem.[52] This acquisition positioned Groupe M6 as the leading private radio group in France, with the stations collectively achieving an 18.4% audience share in 2019, surpassing competitors among non-public broadcasters.[53] RTL, the flagship station, operates as a generalist news and talk format, serving as France's most-listened-to radio with 6.203 million daily listeners and a 12.6% audience share in 2019, stabilizing at around 5.09 million listeners (11.1% share) for the 2024–2025 season amid competition from public stations like France Inter.[53][54][55] It maintains strong performance in prime time, averaging over 2 hours and 21 minutes of daily listening per audience member historically.[53] RTL2 focuses on pop-rock music, targeting adults with 2.3 million daily listeners in 2019, particularly appealing to higher socioeconomic groups (CSP+), where it ranks as the top adult music station; in September 2025, it received the Grand Prix des Médias award for best radio station.[53][56] Fun Radio specializes in dance and electronic music, attracting 2.6 million daily listeners in 2019 and ranking second among music stations for the 25–49 demographic, with leadership in dance-electro genres; it supports 13 thematic digital sub-stations for targeted listening.[53][57] Collectively, the stations reached over 5 million daily listeners by April 2025, reinforcing Groupe M6's dominance in private radio amid a fragmented market where public broadcasters hold the overall lead.[58] The portfolio emphasizes live broadcasts, podcasts, and digital extensions, adapting to shifts in consumption while relying on advertising revenue tied to audience metrics from Médiamétrie.[59]Digital Platforms and Streaming Services
Groupe M6's primary digital platform is the M6+ streaming service, an advertising-based video-on-demand (AVOD) offering launched on May 14, 2024, which replaced the longstanding 6play platform introduced in 2008 as France's first catch-up TV service.[19][16] M6+ aggregates content from Groupe M6's television channels, including M6, W9, 6ter, Gulli, Paris Première, and Téva, providing on-demand access to episodes, live streams, and exclusive original programming.[60] The service expanded free ad-supported content to 30,000 hours annually, doubling the previous catalog, and incorporates over 20 free ad-supported streaming TV (FAST) channels for linear-style viewing.[19][61] Key features of M6+ include high-definition streaming across web, mobile apps (available on Google Play and Amazon platforms), and connected TVs; multi-profile support for personalized recommendations; and casting capabilities to external devices.[61][60] Distributed via over-the-top (OTT) apps and partnerships with French telecom operators, the platform targets broad accessibility while emphasizing ad revenue growth amid cord-cutting trends.[62] In September 2024, M6+ formed a content partnership with Paramount Global's Pluto TV to enhance free streaming options and audience reach in France through shared editorial and commercial strategies.[21] Complementing M6+, Groupe M6 maintains specialized replay services like Gulli Replay for children's content from the Gulli channel, focusing on on-demand and live access tailored to younger audiences.[1] The company discontinued involvement in the joint-venture streaming service Salto in early 2023, shifting resources to proprietary AVOD expansion.[63] In October 2023, Groupe M6 divested its thematic online media and services division to Prisma Media Group, streamlining focus on core video streaming assets.[23] Post-launch metrics indicate strong initial uptake, with M6+ achieving rapid user adoption as Groupe M6's flagship digital hub.[63]Production, Film, and Other Media Ventures
Groupe M6 maintains a diversified portfolio in audiovisual production, encompassing in-house television content creation, film co-production and distribution, and ancillary media ventures. Its production efforts primarily support its broadcast channels, including original French fiction series and TV films developed internally or with partners, emphasizing genres like drama and entertainment to align with audience preferences. In 2025, these activities contributed to a robust lineup, with commitments to new seasons of popular series and documentaries.[38] In film, SND (Société Nouvelle de Distribution), a key subsidiary, handles feature film production, distribution, and international sales across various genres, serving as the primary arm for Groupe M6's cinematic output. SND has distributed titles such as Kaamelott – Deuxième Volet and Les Bodin's partent en vrille, focusing on both French and international content to maximize theatrical and ancillary revenues. Complementing this, M6 Films specializes in co-productions, partnering on projects that enhance the group's content pipeline for its platforms. M6 Studio further supports film production initiatives, while Studio 89 Productions contributes to scripted content development. Collectively, films co-produced and distributed by the group represented approximately one-third of tickets sold for French-produced features in 2024, yielding a 17.1% market share in that segment.[64][65][66] Beyond core audiovisual production, Groupe M6 extends into other media ventures, including music production and live event management, initiated around 1999 to broaden revenue streams. These encompass sports and musical events production, alongside animation projects tailored for children's channels like Gulli and Canal J, featuring original series and films to capture family demographics. The group's strategy integrates these ventures with digital distribution, ensuring cross-promotion across its ecosystem while prioritizing commercially viable, audience-driven content over subsidized or niche pursuits.[67][68]Financial Performance and Strategy
Historical Revenue and Profit Trends
Groupe M6 experienced steady revenue growth through the 2010s, fueled by expansion in core television operations, radio assets, and diversification into production and digital services, culminating in a peak of €1,456.1 million in 2019.[69] The onset of the COVID-19 pandemic disrupted this trajectory in 2020, with consolidated revenue declining 12.5% to €1,273.6 million, largely attributable to a sharp drop in advertising income amid economic lockdowns and reduced consumer spending.[70] Post-pandemic recovery saw revenue rebound to €1,390.4 million in 2021, supported by resumed advertising and operational efficiencies, though subsequent years reflected a stabilization trend amid intensifying competition from streaming platforms and fragmented audiences.[69] Revenue edged down to €1,356.9 million in 2022, €1,315.6 million in 2023, and €1,311.2 million in 2024, with advertising—comprising the bulk of income—remaining flat at around €900-1,100 million annually in this period, highlighting structural challenges in traditional broadcast markets.[71][7] Net profit trends mirrored revenue volatility but demonstrated operational resilience, with EBITA (earnings before interest, taxes, and amortization) rising from €284.4 million in 2019 to €346.7 million in 2021 despite the interim revenue dip, aided by cost controls and diversification contributions.[69] Net profit attributable to the group stood at €280.8 million in 2021, fell to €165.9 million in 2022 amid higher production costs and market softness, recovered to €237.1 million in 2023, and moderated to €173.1 million in 2024 as EBITA declined to €242.1 million due to elevated content investments and competitive advertising pressures.[71][69]| Year | Revenue (€ millions) | Net Profit (€ millions) | EBITA (€ millions) |
|---|---|---|---|
| 2019 | 1,456.1 | Not specified | 284.4 |
| 2020 | 1,273.6 | Not specified | Not specified |
| 2021 | 1,390.4 | 280.8 | 346.7 |
| 2022 | 1,356.9 | 165.9 | 336.2 |
| 2023 | 1,315.6 | 237.1 | 300.7 |
| 2024 | 1,311.2 | 173.1 | 242.1 |
Recent Financial Metrics (2020s)
Groupe M6's consolidated revenue grew from €1,323.3 million in 2020 to €1,390.4 million in 2021, reflecting post-pandemic recovery in advertising and diversified operations.[70][73] Subsequent years saw a gradual decline, with revenue at €1,356.9 million in 2022 (down 2.4% from 2021), €1,315.6 million in 2023 (down 3.0%), and €1,311.2 million in 2024 (stable year-over-year), primarily due to softening TV advertising markets amid economic pressures and shifting viewer habits.[74][75][66] Profitability metrics, measured by EBITA (earnings before interest, taxes, and amortization), followed a comparable trajectory, peaking at €346.7 million in 2021 (up 28.0% from €270.7 million in 2020) before moderating to €336.2 million in 2022.[73][70][69] By 2024, EBITA stood at €242 million, impacted by investments in digital transformation and a weaker second-half advertising environment.[7] Despite overall revenue stagnation, growth in non-traditional segments provided offsets; streaming revenues surged 34.2% to €99.5 million in 2024 from €74.1 million in 2023, comprising 9.6% of total revenue.[7] Net income also showed resilience, rising 42.9% to €231.7 million in 2023.[76]| Year | Revenue (€ millions) | EBITA (€ millions) |
|---|---|---|
| 2020 | 1,323.3 | 270.7 |
| 2021 | 1,390.4 | 346.7 |
| 2022 | 1,356.9 | 336.2 |
| 2023 | 1,315.6 | - |
| 2024 | 1,311.2 | 242 |