Telefónica Audiovisual Digital (TAD), parent company of Movistar Plus+, closed 2025 with a net profit of 15.7 million euros, which implies a drop of 77.6% compared to the 70.2 million euros registered in 2024, a setback linked to the Employment Regulation File (ERE) agreed upon the previous year.
Operating income also decreased notably, to 19.2 million euros, 76.8% less than the 82.8 million euros of the previous fiscal year. In parallel, the net amount of turnover barely changed, with revenues of 1,950.5 million euros, according to the accounts submitted by the company to the Mercantile Registry, to which Europa Press has accessed through Informa.
In its analysis of business performance, the company remarked that revenues in 2025 were very similar to those of the previous year and came "mostly from transactions with group companies derived from their activity of sale and distribution of content for the Movistar Plus+ platform."
The subscriber base advanced 7.9% in 2025, reaching 3.8 million customers, although this increase did not have a proportional impact on revenue. On the other hand, advertising did show better performance, with sales rising from 67.3 to 75.9 million euros.
Costs, ERE, and Staff
In the expenses section, Movistar Plus+ operating costs amounted to 1.951 billion euros, an increase of close to 3%, driven "mostly by the increase in personnel expenses as a consequence of the collective dismissal plan signed."
The average workforce practically did not change, with 831 employees compared to 834 in the previous fiscal year, while the average payment period to suppliers remained at 50 days.
In the labor sphere, on December 22, 2025, the company reached an agreement with trade union organizations to carry out a collective dismissal of up to 245 workers, which involved accounting for a provision of 65.9 million euros.
Strategic Plan and Outlook for 2026
Looking ahead to 2026, TAD has set the goal of "continuing to offer the best 'premium' content available, with the best broadcasting and production technology, as well as the optimization of its advertising spaces," and considers that the renewal of sports rights, the commitment to own production, the integration of other operators, and the positioning of Movistar Plus+ allow for "establishing an optimistic commercial framework."
In the financial field, TAD detailed that it uses hedging instruments to partially mitigate exchange rate risks linked to the purchase of audiovisual rights. However, at the close of 2025, it did not have any active hedging, "considering that optimal market conditions were not occurring".
The company also highlighted that it maintains "a continuous adaptation of its services and processes to new technologies" with the aim of positioning itself "at the forefront" and reinforcing both its systems and its content offering.
Finally, the company signed the II Collective Agreement, valid until 2030, with the purpose of moving towards an organization "more digital, flexible, and prepared for future challenges in a highly competitive and deeply transforming context".