Revenues

Revenues reduced by CHF 143.8 million or 13.3 per cent, compared with the previous year, from CHF 1 079.5 million to CHF 935.8 million. The effect of the change in the group of consolidated companies is negligible as the decline in revenues associated with the disposals of Starticket AG, Olmero AG and Trendsales ApS was somewhat offset by the access to revenues associated with the purchase of the Zattoo Group in the first half of 2019.

The coronavirus crisis led to a massive decrease in advertising revenues in 2020, with revenues declining by approximately 23.3 per cent to CHF 273.5 million. Tamedia’s daily and Sunday titles and the free media offered by 20 Minuten have been particularly badly affected by the reduction in revenues. The lockdown and the difficult market environment also had a strong negative impact on revenues from classifieds and services and sales of digital classified advertising, which in total declined by 7.1 per cent to CHF 252.2 million. Marketing and brokerage revenue (-16.8 per cent to CHF 72.4 million) and print revenue (-21.9 per cent to CHF 59.9 million) were hard hit as well. By contrast, revenues from subscriptions and individual sales remained stable compared with the previous year. Further information on changes in revenues can be found in the segment reporting for each business division (see “Market assessment”).