MFE-MediaforEurope (MFE) has made headlines with its impressive financial results for 2024, as the company continues to grow amid fierce competition from global streaming giants. Under the leadership of Pier Silvio Berlusconi, MFE reported a net profit of €251 million, marking a 15% increase from 2023 and surpassing 60% of the forecasts made at the beginning of the year. The company’s consolidated preliminary net revenues reached €2.9 billion, reflecting growth of 5% compared to €2.810 billion reported last year.
This positive trend also extends to cash generation, with cash flow standing strong at €343 million, allowing MFE to significantly decrease its debt from €903 million to €692 million, even after distributing €140 million in dividends. Despite the good news, stock prices slipped by over 2%, as market perceptions of 2025’s prospects remain uncertain.
“2025 has started positively, with January advertising revenue up by 1%,” Berlusconi explained. “Nevertheless, the market remains complicated, and visibility on future performance is limited.” Interestingly, MFE's market share within Italy has surged to 40.9%, the first time the company has surpassed this threshold, amid stiff competition.
Berlusconi is unabashedly optimistic about the company’s prospects for growth and innovation. He believes there is immense potential for MFE to challenge dominant U.S. players like Netflix and Amazon. To succeed, he insists on the necessity for fairer regulations for all competitors. “We are ready for the European challenge,” he stated. “But now is the time for fairer rules for everyone.”
He went on to criticize the advantages enjoyed by tech and streaming giants, which, according to him, risk undermining not just the media sector but the economic health of all European and national businesses. “Financial power and lenient regulatory frameworks could weaken the entire economy over the long term, affecting job levels and salaries for Italian and European workers,” he warned.
This call for regulatory action is corroborated by MFE's solid performance, which stands out during ever-challenging market conditions. The 2024 financial results, focusing solely on operations within Italy and Spain, do not yet reflect revenue contributions from MFE’s stake in the German broadcaster ProSiebenSat. The results from this collaboration will be disclosed next week, paving the way for future forecasts.
Though the publicity generated by international sporting events like the UEFA European Championship and the Paris Olympics did not benefit MFE, the company still found ways to increase its overall advertising revenue by 4.7% across both markets. Performance was attributed to all channels within MFE’s expansive portfolio, including TV, connected TV, digital, radio, and digital out of home, outpacing the overall market growth.
“MFE continues to invest and strengthen its leadership across Europe, defying trends among other broadcasters who are facing declines,” Berlusconi summarized. He highlighted the media group’s exceptional ability to outpace the market, something he credits to the successful execution of its strategic vision, which focuses on innovation and responsible growth.
Looking forward to 2025, Berlusconi remains focused on reinforcing MFE’s editorial presence not only in Italy and Spain but also potentially entering other European markets. “We understand well the necessity of scaling up to withstand the pressures from global giants,” he reiterated.
The company is determined to uphold its cross-media infrastructure, which uniquely positions it against traditional media entities. Berlusconi emphasized, “Our advertising system, centered on national television and interconnected with radio, web, and digital platforms, is one of the most advanced for advertisers.”
Despite the pressure from big tech rivals and the associated competitive challenges, MFE's results highlight its resilience and adaptability. The company’s commitment to addressing regulatory imbalances clearly emphasizes the broader conversation surrounding the role of technology firms within the traditional media space and their impact on local economies.
With MFE's current growth momentum and Berlusconi’s calls for equitable regulations, the stage is set for impactful developments within the European media industry. The preliminary consolidated balance sheet for MFE, which will receive final approval at the board meeting scheduled for April 16, 2025, is poised to reflect these dynamic changes.