Annual Report2025

2025: Another excellent year that exceeded our expectations

The organization’s greatest achievement has been maintaining stability and preserving a strong revenue base, while also preparing the ground for new negotiations in 2026.

We are pleased to see that the joint efforts of the AGICOA network have delivered results that exceeded expectations. Distributions also performed better than planned, with EUR 171.1 million, compared with the planned EUR 141.0 million.

The UK market is performing strongly, requiring limited investment from our side, and developments in Italy are also encouraging and it’s a strong business potential. In several markets, negotiations have begun to bear fruit, supported by strong partnerships. However, Belgium and the Netherlands remain challenging and will require continued attention.

Our AI process is reliable

Our AI process has proven to be reliable and effective, enabling us to operate significantly faster. Other organizations are now looking closely at our approach, as AGICOA has been among the pioneers in applying AI in this field.

While the use of AI may lead to some adjustments in roles over time, it also allows teams to dedicate more time to tasks that require human judgment and expertise.

The team is excellent

I am extremely proud of the AGICOA team. They work together with a strong sense of collaboration and commitment, maintaining excellent relationships with both producers and the Board and constructive relationships with the operators. This collective effort reflects a true team spirit across the organization.

The Board also maintains full confidence in the integrity and professionalism of AGICOA’s operations.

Looking ahead

Our primary focus remains on negotiations in our core markets while also pursuing opportunities to develop new markets.

Over the longer term, changes in television consumption are inevitable, with new and more consumer-friendly ways of packaging content continuing to emerge. However, these developments can put pressure on margins, particularly in our core markets, which is why negotiations have become more complex. Our objective is to anticipate these changes and remain ahead of market developments.

At the same time, we must closely monitor the evolving legal framework, including the Cable Directive and related regulations, assessing both potential opportunities and possible challenges. As demonstrated by our results, AGICOA is adapting well to these market transformations, and we will continue to do our utmost to evolve accordingly.

We also maintain strong governance through continued supervision by the Finance Committee and constructive deliberations within the Board dealing at times with sensitive and complicated issues in a generally collegial manner.

With our unwavering dedication, strategic investments, commitment to high standards, and capacity to adapt to change, we remain confident about continued progress and positive outcomes in the years ahead.