Financial Situation Stabilizes For ProSiebenSat.1 With German-Speaking Ad Market Beginning Recovery In Q3
deadline.comGermany’s ProSiebenSat.1 has seen its financial picture stabilizing as the local TV advertising market began to show signs of recovery.
The commercial TV giant, which has faced a tough 2023, posted third quarter revenue of €888M and adjusted EBITDA of €110M. This was very close to the €911M and €108M recorded in the same period a year ago.
ProSieben noted the TV ad market had once again declined in German-speaking regions of Europe, but “to a lesser extent than in the first half of the year.” Europe’s major commercial networks have been banking on an ad market towards the end of this year and shareholders increasingly spooked by a lack of movement, so the news will be welcomed.
Digital once again helped ProSieben’s bottom line, with streamer Joyn posting AVoD advertising revenues up 58%, while overall digital and smart advertising revenues were up 16%.
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