TVN channel reported a slight drop in its target group audience share in 1Q2007, down by 0.86 p.p. y/y to 17.08%, on the back of weaker programming, coming behind Polsat, up 0.40 p.p. y/y to 19.65%. Public television channels reported declining audience share with TVP1, down 0.41p.p. y/y to 21.34%, and TVP2, down 1.91% y/y to 17.56%.
Our view: We might see some negative trading impact on the back of the news, although weaker programming at TVN has been evident for some time. TVN management guided earlier that it would consider modifying its programming offer after seeing audience share results for April.