RTL has reported better than expected TV advertising revenue across the Group down by just 2.1 per cent, and total revenue down by 1.5 per cent to €1.4 billion.
From January to September 2020, group revenue was down 11.8 per cent to €4.053 billion. In the same period, the Group saw gains in net TV advertising market shares and outperformance of its commercial competitors on audience ratings in Germany and France.
Paying subscribers for RTL Group’s streaming services TV Now and Videoland were up 32 per cent to 1.79 million.
The Group expects full yeat revenue of around €5.8 billion and adjusted EBITA of around €720million.
Thomas Rabe, Chief Executive Officer of RTL Group, commented: “We monitor closely the development of the coronavirus pandemic and its economic impact across our footprint, and continue to focus on the safety of our employees, the continuity of our businesses, cost and liquidity management. Following a strong decline in the second quarter of 2020, TV advertising revenue across RTL Group decreased by only 2.1 per cent in the third quarter compared to our previous guidance of around minus 10 per cent.”
“At the same time, we continued to gain advertising market shares, grow our streaming services and manage our costs. Assuming the economic recovery continues, we currently expect revenue of around €5.8 billion and an Adjusted EBITA of around €720 million for the full year 2020, driven by the strength of Mediengruppe RTL Deutschland. We also expect to propose a dividend for 2020, in line with our stated dividend policy. At the end of October, RTL Group completed the sale of its entire shareholding in the Canadian digital video network BroadbandTV for €102 million. The sale is consistent with our three-priority strategy – core, growth, alliances & partnerships – which also includes continuously reviewing our portfolio and growing our European digital assets in the areas of streaming, advertising technology and digital video,” Rabe added.