Premiere’s Financials In The Black
Premiere, the German satellite pay-TV operator, reached profitability in the second quarter this year. Premiere’s CEO Georg Kofler commented, “Premiere has finally turned EBITDA positive, a major milestone has been reached. Premiere will also generate a profit in its operating business in the second half of this year.” Revenues in the second quarter reached $315.5 million, an increase of 9.2 percent compared with the same period last year. The operator also saw healthy increases in terms of subscription and Pay-Per-View revenues.
However, while the operator reached profitability, subscriber numbers have remained flat at the start of this year. Premiere ended 2003 with nearly 2.9 million subscribers and, despite reaching profitability, the carrier has been unable to penetrate the 3 million- subscriber mark during the first six months of this year.