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Métropole Télévision
Métropole Télévision (MMT) investor relations material
Métropole Télévision Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary28 Jul, 2026
Executive summary
Achieved record audience and digital engagement during the 2026 FIFA World Cup, reaching up to 94% of the French population and nearly 100% of those under 50, with peak viewership exceeding 20 million for key matches and 11 million active digital users.
M6 became the top national channel for the first time, leading the French TV market in audience share, especially among the 25–49 demographic, and posted the 10 highest viewership figures of the year.
Digital transformation accelerated, with M6+ surpassing 4.2 million new accounts, 11 million unique users, and over 100 million video views, supported by a partnership with Amazon Prime.
Commercial performance during the World Cup was exceptional, attracting over 300 brands and organizing more than 40 special campaigns.
Outperformed the advertising market, with video advertising revenue up 1% year-over-year and a record market share increase of 2.2 percentage points.
Financial highlights
Total operating revenues rose to €654.6m (+€16.6m year-over-year), with H1 2026 revenue reported at €643.8m (+1.8%).
Video advertising revenue reached €454.5m (+1.0%), with Q2 up 8.7% due to World Cup.
EBITA dropped sharply to €54.4m (down 48.7% or €51.6m), with half the decline attributed to World Cup costs and the remainder to market conditions.
Net profit fell to €34.4m, down 40.6% year-over-year.
Cash and cash equivalents decreased to €33.0m (down €183.1m from year-end 2025), with net treasury at €-36 million.
Outlook and guidance
Launch of new programs and entertainment brands post-World Cup, with continued cost management and rollout of the M6 2030 Plan targeting €80m in savings over five years.
Streaming revenue is targeted to exceed €200m by 2028, with over 1 billion hours viewed on M6+ platform.
Positive cash flow impact from World Cup expected in H2 2026.
Low visibility in the advertising market persists, and dividend policy will depend on year-end cash flow and market results.
Impact of World Cup on non-advertising revenue
Bedrock impact on equity-accounted results
Factors in the Audio division margin compression
Drivers of the H1 EBITA margin compression
Strategy to reach 200m euro streaming revenue
Rationale for Stéphane Plaza network divestment
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Latest events from Métropole Télévision
- Streaming and digital growth offset declines in traditional revenue, with strong audience gains.MMT
AGM 2026 presentation - Operating margin and EBITA rose in Q1 2026, offsetting revenue decline amid streaming growth.MMTQ1 2026
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- Streaming and TV growth lifted revenue, but margins fell on higher content costs.MMTH1 2024
- Record Q1 video ad revenue and digital growth drive results, but outlook remains cautious.MMTQ1 2025
- Streaming revenue surged 34% as digital transformation accelerated.MMTQ4 2024
Next Métropole Télévision earnings date
Q3 20263 Nov, 2026
Métropole Télévision
Next Métropole Télévision earnings date
Q3 20263 Nov, 2026
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