Fremantle, the RTL-owned global production empire behind shows including American Idol, Too Hot To Handle, and We Are Who We Are, suffered a 39% drop in earnings as the coronavirus pandemic wiped out TV shoots across the world.Fremantle’s adjusted earnings before interest, tax, and amortization (EBITA) stood at €87 million ($104M) in the full-year 2020, down €55M ($66M) on €142M in 2019, according to RTL’s annual report.
Revenue also dropped 14.3% to €1.79 billion over the same period.Fremantle’s financial woes are not unusual, with other production groups reporting similar trends in recent days.
Red Arrow Studios, another German-owned production company, recorded a 12.6% decline in EBITDA to €42M last year. ITV Studios’ profits sunk 43% to
Read more on deadline.com