Red Arrow Studios, the production group owned by German broadcaster ProSiebenSat.1, took a €46 million ($55M) hit to its revenue in 2020 after the coronavirus pandemic halted production around the world.Red Arrow-owned Kinetic Content landed a big Netflix hit in the shape of Love Is Blind, but it was ultimately an unsettled year for the production empire amid Covid-19.ProSiebenSat.1 shelved plans to sell the company because of the pandemic, while the producer’s CEO James Baker was among a number of senior executive departures.
Red Arrow is now overseen by a ProSieben advisory board.According to ProSieben’s full-year earnings, Red Arrow’s total revenue fell 6% from €730M in 2019 to €684M last year.
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