Mixed Picture For ProSiebenSat.1’s Full-Year Results As TV Advertising Weighs On Numbers

deadline.com:

ProSiebenSat.1 Media’s full-year financial results showed a mixed picture as the German giant this week saw content from public broadcasters ZDF and ARD fall off its streamer, Joyn.

Unterfoehring-based ProSieben posted revenues of €3.92B for 2024, up 2% year-on-year, as growth in several segments was offset by a “challenging macroeconomic situation” that has had “significant impact” on linear TV advertising.

Adjusted EBITDA was €557M, down 3.6%. Both results were in line with guidance, with ProSieben noting private consumption and companies’ willingness to spend on ads “did not develop as positively as expected at the beginning of the year,” while the Dating & Video segment “declined in a difficult and highly competitive economic environment.” This marks the third year in a row TV advertising has hit ProSieben’s numbers, and comes as speculation about ProSieben’s future continues.

Lead shareholder MediaForEurope (MFE), which last week posted a 15% rise in profits, is expected by many to launch a full takeover bid following today’s results.