German media group ProSiebenSat.1 has made a strong start to 2016 after reporting slightly better than expected profits and revenues for 2015 and an increased market share in German TV advertising.
Recurring earnings before interest, taxes, depreciation and amortisation, excluding special items, from continuing operations (REBITDA), rose 9 per cent to €925.5 million. Its share of the market for TV advertising in Germany rose to 44.4 per cent, from 44 per cent in 2015. Digital revenues rose 39 per cent in 2015. The broadcaster said it expects profits to rise further in 2016 and revenues to rise by around 10 per cent.
“ProSiebenSat.1 Group, supported by a domestic economy that remains positive, has made a good start to the first quarter of 2016,” it said in a statement.
Meanwhile, ProSiebenSat.1 has said it plans to stay on the sidelines when media companies bid for rights to broadcast German top-flight Bundesliga football matches.
“Big sports rights are not economical for us,” advised Chief Executive Officer Thomas Ebeling, adding that expensive rights packages for sporting events such as Bundesliga matches or the Olympics paid off more easily for pay-TV broadcasters than companies that relied on advertising revenue.