Bert Habets: Last News

Naman Ramachandran German media giant ProSiebenSat.1 Group has managed to swim against the current of a challenging economic environment, posting revenue growth of 2% to €3.91 billion ($4.23 billion) for the 2024 financial year. The results fell within the media conglomerate’s communicated target ranges, though adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) dipped 4% to $602 million compared to the previous year. The company’s digital entertainment strategy appears to be bearing fruit, with its streaming platform Joyn emerging as a standout performer.

“Measures to increase efficiency are taking effect,” German giant ProSiebenSat.1 said today as profits rose 14% in the second quarter to €91M ($100M) and turnover grew slightly.

Naman Ramachandran German media giant ProSiebenSat.1 reported a 5% increase in both Q2 and first-half 2024 revenues, reaching €907 million ($991.4 million) and €1.7 billion ($1.9 billion) respectively, the company revealed on Thursday. The company’s streaming platform Joyn continued its upward trajectory, with AVOD revenues jumping 25% and total viewing time surging 38%. TV advertising revenues held steady.

Naman Ramachandran Markus Breitenecker, currently CEO of ProSiebenSat.1 PULS4, has been appointed to the group’s executive board, with effect from April 1. Together with CEO Bert Habets, Breitenecker will take over the management of the German giant’s entertainment segment as chief operating officer.

Naman Ramachandran German media giant ProSiebenSat.1 is continuing its period of realignment with a host of changes in its management structure. In 2022, ProSiebenSat.1 acquired German streaming service Joyn from Warner Bros. Discovery.

Naman Ramachandran Declining TV advertising revenues in the German-speaking region have contributed to revenues and profits plunging at media giant ProSiebenSat.1. Quarterly results published on Thursday reveal that the group’s revenues declined from €1.04 billion ($1.14 billion) in 2022 to €868 million ($950 million) this year.

Naman Ramachandran German media giant ProSiebenSat.1 Group’s continuing realignment after it acquired streamer Joyn in 2022 will result in the loss of 400 jobs. “A realignment of the organization is now taking place, particularly in the entertainment segment. The aim is to achieve a more efficient structure, a competitive cost base, and processes clearly geared to digital transformation. This is a priority in order to continue investing consistently in the future of the group, especially in content and digital offerings,” the group said in a statement on Tuesday. “Against this background, also a reduction in the number of jobs in the group has become necessary: This will affect around 400 full-time positions. The job cuts will be made in a socially responsible manner through a voluntary redundancy program in order to avoid compulsory redundancies as far as possible. The company had agreed on this in talks with employee representatives,” the statement added.

Germany’s ProSiebenSat.1 is cutting around 400 roles, as it continues to reshape its business as a digital-first operation.

The changes at Germany’s ProSiebenSat.1 took further shape Monday when the German media giant said Seven.One Entertainment Group CEO Wolfgang Link will exit the company next month amid a restructure and downsizing of the group’s executive board.

German media group ProSiebenSat.1 is to double down on entertainment investments and is eyeing acquisitions, as it puts streaming service Joyn at the center of its business.