Good news or ‘Double Dutch’ from RTL?

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RTL’s Q2 results issued August 29th reported group revenues up 3.6 per cent (and 2.3 per cent for the first half-year) and which permitted the broadcasting giant to say that its first half-year revenues had grown for the “fourth year running” and despite the challenges from rival transmissions of the Winter Olympics and 2018 World Cup.

RTL is maintaining its full-year outlook, which is for 2.5 – 5 per cent growth, but equity analysts at Deutsche Bank caution that it was the broadcaster’s “other” segments which had contributed the improved picture, and not so much from its TV broadcasting in Germany. TV Ad-revenues represented 47.5 per cent of Group revenues, 18.7 per cent from Content, 13.9 per cent from Digital activity, 4.2 per cent from radio advertising and 10 per cent from ‘Other’ revenues.

RTL itself says: “RTL Group will foster more organic growth initiatives in two main areas: building video-on-demand services that attract mass audiences across all content genres and continuing FremantleMedia’s push into scripted drama.”

Indeed, RTL’s 1H digital revenues were up 9 per cent to €424 million “and mainly driven by organic growth at BroadbandTV, Ludia and Videoland, as well as portfolio effects such as the first-time consolidation of United Screens.”


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