BeIN Sports France president Yousef Al-Obaidly has said the pay-television broadcaster is on course for profitability despite a report claiming it has posted a cumulative loss of more than €1bn ($1.072bn) since its launch in June 2012.
The report by Capital said beIN Sports France had posted a cumulative loss of €1.033bn since launching, having invested a total of €640m on sports rights in 2014 and 2015.
However, Al Obaidly said the broadcaster had enjoyed a “record year across every metric”, with a significant increase in “subscribers, revenues, distribution and viewership”.
He added: “After a period of investment, we are delighted that beIN Sports France will reach profitability on the back of the recently-announced distribution agreements. The company has high-value assets, strong revenue generation and a very healthy balance sheet which make it a very attractive component of the beIN Media Group's global portfolio.”
Al Obaidly said the broadcaster had reached 3m subscribers – a milestone he described as “remarkable” considering the "modest growth" of the French economy and “fierce competition” in the sector.
He added: “The beIN Media Group is committed to France and the strategy of global expansion and innovation which includes ongoing investment into the very best staff, content and customer experience.
“As part of the wider global group, beIN Sports France is already reaping the benefits of this strategy which will lead to long-term sustainable profitability, ahead of our targets and market expectation. BeIN Sports France will continue to innovate and make further investments within France, to remain the market's pre-eminent and fastest-growing sports media group.”