March 23, 2020 / 7:28 AM / 7 days ago

BRIEF-TF1 Suspends Objectives Announced In February Due To Coronavirus

March 23 (Reuters) - Television Francaise 1 SA:

* PERFORMANCES WILL BE IMPACTED

* ON CORONAVIRUS: AT THIS STAGE, WE HAVE NO VISIBILITY FOR MAY AND SUBSEQUENT MONTHS

* RECENT LOCKDOWN MEASURES ANNOUNCED BY GOVERNMENT MEAN THAT ALL OF OUR ADVERTISER CUSTOMERS ARE NOW AFFECTED BY PANDEMIC, THOUGH IMPACT VARIES FROM SECTOR TO SECTOR

* OUR PRODUCTION AND ENTERTAINMENT ACTIVITIES ARE AFFECTED BY THE SUSPENSION OF SHOOTING, MOVIE THEATER RELEASES, LIVE SHOWS AND CONCERTS

* AN INITIAL SIGNIFICANT IMPACT WILL BE FELT IN OUR ADVERTISING REVENUE PERFORMANCE IN MARCH, WITH AN EVEN GREATER IMPACT IN APRIL

* WE ARE SEEING SIMILAR TRENDS IN DIGITAL ADVERTISING AT UNIFY

* IN TERMS OF RATINGS FOR OUR CHANNELS, WE ARE SEEING INCREASED CONSUMPTION OF OUR CONTENT IN ALL FORMS AND ACROSS ALL DEVICES, AND WE EXPECT CONSUMPTION TO KEEP GROWING

* BY CONTRAST, OUR SOCIAL E-COMMERCE ACTIVITIES (SUBSCRIPTION BOX SALES) ARE CURRENTLY LESS AFFECTED BY THE CRISIS

* IT IS TOO SOON FOR US TO ESTIMATE HOW ALL OF THESE IMPACTS WILL AFFECT OUR RESULTS

* AT THIS STAGE, WE HAVE NO VISIBILITY FOR MAY AND SUBSEQUENT MONTHS

* IN OUR STUDIOS & ENTERTAINMENT SEGMENT, CONTENT PRODUCTION HAS BEEN GRADUALLY SHUTTING DOWN

* ACTIVITIES OF PRODUCTION AND ENTERTAINMENT INDUSTRIES ARE ALSO IMPACTED BY THE HALT IN FILMING, THEATRICAL RELEASES, AND SHOWS AND MUSICAL EVENTS

* AS A CONSEQUENCE, WE HAVE TO MAKE THE LOGICAL DECISION TO SUSPEND THE OBJECTIVES WE ANNOUNCED IN FEBRUARY 2020, UNTIL THE SITUATION BECOMES CLEARER Further company coverage:, (Gdansk Newsroom)

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