Fremantle Owner RTL’s Revenues, Profits Take a Hit Due to Weak Advertising Market
14.03.2024 - 07:45
/ variety.com
Naman Ramachandran Revenues at Bertelsmann’s Luxembourg-based RTL Group, a media giant which owns Fremantle, dipped 5.2% to €6.2 billion ($6.7 billion) for the financial year 2023. The company attributed this to lower TV advertising revenue and lower Fremantle revenue. The company’s EBITA (earnings before interest, taxes and amortization) slid to €782 million, down from €922 million in 2022.
Fremantle, RTL’s content arm, had a strong year from an awards point of view, with its Element Pictures producing Golden Globe, BAFTA and Oscar winner “Poor Things.” However, revenue fell from €2.3 billion to €2.2 billion and EBITA from €162 million to €139 million. RTL is targeting full-year revenue of €3 billion for Fremantle by 2025/2026. There was good news on other fronts.
RTL Group’s family of TV channels in Germany increased its lead over main commercial competitor ProSiebenSat1 to 5.8 percentage points, the highest lead in the last 10 years, the company said. Paying subscribers for RTL Group’s streaming services in Germany, Hungary and France were up 30.5% to 5.6 million and streaming revenue up 72.6% to €283 million. Distribution revenue was stable at €331 million (2022: €332 million).
The company also said that following the envisaged disposal of the Dutch streaming service Videoland and the investments in M6+ in France, it has updated the targets for its streaming services RTL+ in Germany, M6+ in France and RTL+ in Hungary. By 2026, RTL aims to reach some nine million paying subscribers and €750 million of streaming revenue. The group plans to increase its content spend to €500 million and to become profitable by 2026.
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can
send a complaint on the news if you find it unreliable.