Benfica has reported improved financial results due to the Portuguese Primeira Liga football club’s pay-television channel, Benfica TV.
The club said that Benfica TV generated gross revenues of €28.1m ($36.2m), leading to a profit of €14.2m for the club over the 12 months through to June 30.
Benfica said that its new broadcast strategy had led to the improved results. The club opted against renewing a deal with the Olivedesportos agency for coverage of the team’s games beyond the end of the 2012-13 season, and decided to take the rights in-house.
The income generated by the channel helped consolidated earnings to exceed €100m for the first time, registering at €105m.