ProSiebenSat.1 revenue up 5%
August 8, 2024
ProSiebenSat.1 Group continued its 2024 growth in the second quarter. Group revenue at the German broadcaster increased by 5 per cent to €907 million. In the first half of the year, the company recorded revenues of €1.7 billion – also an increase of 5 per cent compared to the same period in 2023.
The Group said that the “year-on-year growth reflects the increase in revenues in the Entertainment segment as well as the continued positive trend in the Commerce & Ventures segment”.
While TV advertising revenues remained at the previous year’s level against the backdrop of Euro 2024 tournament, streaming platform Joyn recorded strong growth in the quarter. AVoD revenues increased by 25 per cent and the total viewing time rose by 38 per cent.
The Group’s adjusted EBITDA increased by 14 per cent to €91 million in Q2. For H1, adjusted EBITDA rose 23 per cent to €163 million. The entertainment segment saw a 3 per cent rise in Q2 external revenues to €612 million, while the commerce and ventures segment saw a 17 per cent increase to €197 million.
ProSiebenSat.1 advised it continues to aim to increase revenues to around €3.95 billion in 2024 with a variance of plus/minus €150 million (previous year: €3.85 billion).
Bert Habets, Group CEO of ProSiebenSat.1 Media, commented: “We are pleased with our business performance in the first two quarters of the year. Our strategy to focus on entertainment with increased content investments while continuing to implement operational cost efficiencies is starting to pay off. The dynamic growth of Joyn in particular shows that we are on the right track: We will establish Joyn as the leading super streamer that is free for everyone in the German-speaking region. Furthermore, we are positioning Joyn as the perfect partner for advertisers and media agencies as we now offer combined TV and digital reach. At the same time, our distribution partnerships, which we recently concluded with Sky and Deutsche Telekom, and the launch of Joyn in Switzerland are important steps towards expanding our reach.”
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