Advanced Television

ProSiebenSat.1 Q1: ‘In line with expectations’

May 26, 2023

German commercial broadcaster ProSiebenSat.1 Group closed the first quarter of 2023 in line with expectations: Group revenues are still impacted by the challenging macroeconomic environment and were thus 13 per cent below the previous year at €816 million in the first three months of the year (previous year: €941 million). In particular as a result of the restraint in the advertising market as well as consolidation effects, revenues in the Entertainment business declined by 20 per cent in the first quarter. The revenue increase of 17 per cent in the Commerce & Ventures segment partially compensated for this. Organically, Group revenues were down 8 per cent year-on-year.

Bert Habets, Group CEO of ProSiebenSat.1 Media SE, said: “As expected, the macroeconomic environment continued to directly impact our advertising business in the first quarter of 2023. This is expected to continue in the second quarter, although somewhat less pronounced. We are already seeing significant improvements in advertising bookings in June compared to the previous months. Therefore, we currently expect adjusted EBITDA in the second quarter to be in the mid to high double-digit million EUR range. At the same time, we expect a significant recovery of our very profitable advertising business in the second half of the year, in parallel with the forecast economic upturn. In 2023, we are laying the foundation for profitable growth in the long-term. We are thus focusing clearly on cost efficiency and making targeted investments in the areas that are strategically important to us in order to make our offerings even more attractive, especially digitally. In this context, the focus is on Joyn. With the launch of our streaming platform in Austria, we have shown that a joint platform of private and public content is possible. We are also working intensively on this in Germany. Ultimately, it’s about giving viewers the best possible offer, directly addressing their needs and habits.”

Categories: Advertising, Articles, Broadcast, FTA, OTT, OTT, Premium, VOD

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