RTL Group streaming subs up 25% in H1
August 9, 2024

RTL Group has reported H1 revenue up 1.8 per cent to €2.9 billion (H1/2023: €2.8 billion), driven by higher TV advertising and streaming revenue. Adjusted EBITA was down slightly to €172 million (H1/2023: €181 million), attributed to higher content investments, whilst total group profit rose 31.1 per cent to €173 million (H1/2023: €132 million).
The European media giant reported paying subscribers for its streaming services (RTL+ and M6+) were up 24.8 per cent to 6.3 million, and streaming revenue increased by 41.9 per cent to €185 million in H1.
RTL Deutschland meanwhile gained TV advertising market share. It’s audience lead over ProSiebenSat1 (in target group) extended to 7.6 percentage points.
Fremantle, RTL’s content production business, saw revenue fall to €957 million in H1, down from a little over €1 billion in H1 2023. The company blamed the decrease on market developments and phasing effects, partially offset by the full consolidation of the recently acquired Asacha Media Group.
The group confirmed its full year outlook, projecting revenue of around €6.6 billion.
“We invest, partner and co-operate more than ever before to drive long-term performance and value creation,” commented Thomas Rabe, Chief Executive Officer of RTL Group. “We have made significant progress in executing our strategy and transforming our businesses by investing, partnering and co-operating more than ever before. As a result, our TV audience performances were strong and our streaming services grew dynamically in the first six months of the year. RTL+ increased its viewing hours by almost 50 per cent across all age groups, and M6+ launched successfully. We are on track to reach our long-term streaming targets and thus profitability by 2026.”
“Our partnerships with Deutsche Telekom and Sky Deutschland are working well, and the advertising technology partnership with ProSiebenSat1 will start soon. With the planned migration of RTL+ to the Bedrock platform, we are creating a true European champion in streaming technology. With the acquisitions of Asacha Media Group and Beach House Pictures, we have invested €200 million to further expand our global content business Fremantle. Overall, our financial performance in the first half of 2024 was in line with our expectations, and we confirm our full-year guidance,” added Rabe.