Germany’s ProSiebenSat.1 Group Revenues Stabilize as Streaming Gains Offset TV Advertising Decline
variety.comNaman Ramachandran Gains made from streamer Joyn have offset the continuing decline in TV advertising in the German-speaking region at media giant ProSiebenSat.1.
Quarterly results published on Tuesday reveal that group revenues are relatively stable with a 3% decline in the third quarter of 2023 to €888 million ($950 million) compared to €911 million ($974 million) in the previous year.
The numbers are a marginal improvement from the second quarter results where the group’s revenues declined from €1.04 billion ($1.14 billion) in 2022 to €868 million ($950 million) this year.
Group revenues for the first nine months of 2023 were €2.5 billion, which corresponds to a decrease of €323 million or 11%. The group’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased to €110 million in the third quarter of 2023 (previous year: €108 million).
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