Page 53 - MEDIASET ESPAÑA / 2013. Corporate Responsibility Report

CORPORATE RESPONSIBILITY REPORT 2013
53
STRATEGY AND BUSINESS MODEL
Over the past three years the audio-visual sector has undergone some major changes
resulting from the need to make existing business projects viable. Specifically, there
were two impor tant milestones in 2010: (I) the acquisition by Mediaset España of
Cuatro and 22% of Digital, and (ii) the elimination of adver tising on RTVE (Spanish
public television). A year later, the successful integration of Cuatro into the Group can
be confirmed.
All this took place in an environment of economic crisis,
in which spending on advertising declined continuously.
In this respect, the Mediaset Group strategy aimed to
reinforce its leading position in the sector (with a 45.3%
share of the advertising market at end-2012) and to
ensure a balanced development of the different channels
depending on market conditions, while at the same time
seeking to maximize revenue from sports broadcasts.
Drawing on the experience gained in this difficult economic
cycle, the strategic vision for 2013-2014 will focus on three
main parameters:
1. CONTINUE BEING A PROFITABLE BUSINESS
The Mediaset Group has evidenced its significant capacity
to control costs, as is required to maintain optimal levels of
profitability, whatever the economic environment. In fact,
in the last three years Mediaset España has accumulated
operational cost savings of €220.8 million. Excellence in
content management and cost control has enabled the
Group to increase the quality and quantity of premium
content for broadcasting.
829.9
824.1
964.4
748.6
FY10pf * FY11 FY12 FY13
-220.8M€
-22.8%
* Consolidated proforma financial statements under IFRS for Grupo Telecinco and Grupo Sogecuatro.
€ Million