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ATRESMEDIA

|

EXECUTIVE SUMMARY

— CORPORATE RESPONSIBILITY 2014

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8

I could not start my summary of the year without expressing my admira-

tion and affection for the late José Manuel Lara Bosch. He was an excep-

tional man and an extraordinary businessman, with a great capacity for

dialogue, who helped to strengthen the role of free and diverse informa-

tion in Spain and to modernise the cultural sector.

Without his leadership and love of innovation,

Atresmedia

would not be

the great communications group that it is today. José Manuel Lara had

successfully held the reins of this company over the last 11 years and we

are in his debt for much of the philosophy and many of the achievements

of this company, which has just celebrated its first 25 years of history.

Over this time,

Antena 3

, the first private television network in our coun-

try, has turned into

Atresmedia

, the leading audiovisual communications

group in Spain, which creates, manages, distributes and markets content

across all the communications platforms.

2014 has been an excellent year. The market has finally shown the first

signs of recovery after seven years of crisis that saw a fall of almost 50%

in advertising investment.

Atresmedia

has overcome this advertising and

economic recession thanks to its ability to adapt to a constantly chang-

ing socio-economic and legislative environment, to create new business

areas, to improve its management and also thanks to a huge dose of

innovation.

The crisis has made us stronger and more flexible, and now that the re-

covery is taking its first steps, we are in the best possible position to take

advantage of a future full of opportunities. According to Infoadex, 2014

saw a 10% growth in advertising investment. We will probably see a con-

tinuation of this trend in 2015, which means that, although there is still a

long way to go, the coming years should bring us new opportunities for

growth.

In 2014 we had what was called the “digital switch-over”, which forced

Atresmedia Televisión

to stop broadcasting

xplora

,

Nitro

and

laSexta3

,

three leading channels among their genre and audience. Their closure

broke the balance with our main competitor. Despite all this, we did not

have time for regrets and have continued working to minimise the conse-

quences and reinforce our commercial strategy.

Today

Atresmedia Televisión

, with four leading channels in their seg-

ments, is a well-known brand, with an innovative, high quality business

model, respectful of its viewers and advertisers and highly valued by the

audiovisual sector, of which it is very supportive.

This model has allowed our channels to increase their audiences month

after month thanks to programming that is varied in genres and offers

an extremely high proportion of hits. It is a television network that also

stands as the favourite of society and the most appealing from an adver-

tising point of view.

Antena 3

has grown 0.2 points compared to 2013 and is the new absolute

leader in the commercial target (13.8%), the audience of most interest to

the advertisers. In 2014,

Atresmedia

won various awards, including six

Ondas Awards, 17 awards from the Academy of Television, and four MIM

awards, which made us the audio-visual group with the most awards.

The merger with

laSexta

was a great business and editorial success and

has brought us diversity and richness. Since this channel was added to

the Group, its audience has not stopped growing, to the point that it has

so far seen 30 months of uninterrupted growth. With an increase of 1.2

José

Manuel Lara had

successfully held

the reins of this

company over

the last 11 years

and we are in his

debt for much of

the philosophy

and many of the

achievements of

this group, which

has just celebrated

its first 25 years of

history.

Atresmedia

has overcome

this advertising

and economic

recession thanks to

its ability to adapt

to a constantly

changing socio-

economic and

legislative

environment,

to create new

business areas,

to improve its

management and

also thanks to

a huge dose of

innovation.