ProSiebenSat.1, the Germany-based mass media company, has reported that Q3 revenues increase by 4 per cent to €926 million in Q3.
Key rowths drivers were production house Red Arrow Studios (up 21 per cent), NuCom Group (up 13 per cent) and digital and smart advertising business (up 37 per cent).
Streaming platform Joyn remains on growth course with nearly 5 million monthly total active users and 4.9 million app installs after launching in mid-June. Joyn offers users livestreams from over 50 TV channels and an extensive on-demand offer of original series, shows and exclusive previews. Furthermore, PULS 24, the Group’s fourth Austria-only station and the corresponding app successfully went live in September. The new 360-degree project is focusing in particular on information, news, and Austrian content. Since the launch, the app has been downloaded over 550,000 times.
Max Conze, CEO of ProSiebenSat.1 Media, commeneed: “We continue to make good progress and consistently drive ProSiebenSat.1’s transformation. Despite the increasingly difficult macroeconomic environment and a therefore weaker TV advertising market, our revenues increased by +4 per cent in the third quarter. 56 per cent of our revenues are now generated from non-TV core advertising business – and growing by +13 per cent in the third quarter. This was driven by growth of +37 per cent in the digital and smart advertising business and continuing double-digit growth rates at Red Arrow Studios and NuCom Group”.
Conze continued: “We demonstrated once again that our decision to invest in a digital and diversified future was the right one: Our streaming platform Joyn is continuously gaining new users, and the premium version will be launching this winter. At NuCom Group, the online-beauty provider Flaconi boasts very dynamic growth of +59 per cent in the third quarter, while our focus on local content is becoming increasingly effective. In the first nine months of the year, we are clearly ahead of the audience shares of the previous year, and a strong portfolio of fiction and entertainment formats, such as Schattenmoor, Dancing on Ice, and Queen of Drags, is coming up in the next months. In a weakening and less predictable environment, it is all the more important to continue investing in the future of the company.”
ProSiebenSat.1 Group concluded the third quarter largely within its expectations: Despite the clearly weaker than originally anticipated development in the TV advertising business, the Group increased its revenues by +4 per cent to €926 million in this period (previous year: €892 million); the organic increase was +3 per cent. While especially the TV core advertising business affected the development in the Entertainment segment and led to a decline of -4 per cent (organic decline: -3 per cent) in revenues, this was more than offset by the revenue growth in all other business areas.