TF1 tour (Photo credit: Adobe Stock / Florence Piot photos)
(AOF) – Strong with the SBF 120 index, TF1 (-7% at 8.11 euros) is the subject, according to a market source, of a lowering of Kepler Cheuvreux recommendation, which has gone to buy while reducing its price target from 10 to 9.50 euros. The audiovisual group, whose action has increased by almost 20% since the start of the year, will publish its results of the first half of July 29.
At the end of April, during its first quarter results, the group announced the maintenance of its prospects for 2025: sustained two -digit growth in digital turnover, maintaining a margin of activities close to that of 2024 and the objective of a policy of dividends growing in the coming years.
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Key points
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First French television group with 22.6 % audience share among those under 50 and 20.4 % among 25-49 year olds
;
– Five clear channels -TF1, TMC, LCI, TFX, TF Series Films, 3 paid thematic channels -TV Breizh, History and Ushuaïa- and a streaming platform, TF1 +;
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Turnover of € 2 billion, achieved at 82 % in advertising including 1 % in streaming, and 18 % in studios and entertainment activities with producers Blue Spirit, Anagram, Mensen, Izen, Reel One, Real Lava… then 17 % with New Studios
;
– ambition to be the free reference destination on the television screen for family entertainment and information on French -speaking markets, with 3 strategic axes:
– linear: maintain leadership on the advertising market,
– Digital: become the first free streaming platform in France
– Production: make New Studios the European Studio of reference to French Racine;
– Capital locked by Bouygues (45.2 %) and by employees (1o, 7 %) and by the legislative impossibility of OPA, Rodolphe Belmer being president and chief executive officer of the council of 11 administrators;
Challenges
– Agility of the business model:
– data monetization, advertising offer and free streaming service and enlargement of Tech & Media skills,
– TF1+ streaming platform: aggregation of major brands – Le Figaro, L’Equipe or Deezer, the data strategy maximizing the value of digital inventories,
– Strengthening of studio TF1, ex-New, available in French-speaking countries (Belgium, Luxembourg and Switzerland) and partner of broadcasters or platforms, in France and internationally (with targeted acquisitions like the American JPG),
– Films production and, from 2026, distribution in theaters,
– Diversifications: Valuation of the portfolio via licenses, media expertise via the supply of programs for brands, co -production of concerts and music, etc.,,
– Innovation declined upstream with the production of content, downstream with digital by relying on the fablab TF1: convergence in the marketing of video inventories, unification of consumer targeting possibilities, expansion of tech media in OTT, adtech, open innovation ≤ cloud and start-ups (+ 50), via the media in innov and 3 innovation hubs;
– 2030 environmental strategy: decline of 42 %, vs 2021, direct CO2 emissions via co -production, digital sobriety, gentle mobility and purchase decarbonation and 25 % that of suppliers;
– Non -indebted assessment with equity of € 1.9 billion and a net surplus of € 506 million.