
ProSiebenSat.1 achieves adjusted EBITDA plus in the third quarter of 2023 despite difficult market environment
Revenues stabilize after a difficult first half of the year: Group revenues in the third quarter of 2023 were 3% below the previous year at EUR 888 million (previous year: EUR 911 million). Organic1 revenue growth was almost stable.
Further growth in digital & smart advertising revenues partially offsets decline in TV advertising business: TV advertising revenues in the German-speaking region declined in the third quarter due to the economic situation - but to a lesser extent than in the first half of the year. In addition, digital & smart advertising revenues in the German-speaking region increased by 16%.
Joyn grows significantly again and records strongest quarter of the year: The streaming platform Joyn is driving growth in digital & smart advertising revenues and continues to grow significantly with an increase of 58% in AVoD advertising revenues.
Adjusted EBITDA is now again above the previous year and benefits from dynamic growth at Verivox and flaconi: At EUR 110 million, the Groups adjusted EBITDA was above the previous year's level (previous year: EUR 108 million). Here, targeted cost adjustments and profitable revenue growth in the Commerce & Ventures segment had a positive impact.
Group specifies financial outlook for 2023 with expected slightly positive development in the fourth quarter: ProSiebenSat.1 expects adjusted EBITDA to be at the lower end of the range of EUR 600 million plus/minus EUR 50 million forecast at the beginning of the year. Group revenues are expected to be slightly below the target range of EUR 4.10 billion plus/minus EUR 150 million. The Group is assuming slight growth for the important fourth quarter.
Cost efficiency program fully completed, gross savings of EUR 100 million expected in 2024: ProSiebenSat.1 is laying the foundations for effective implementation of the strategy with a focus on Entertainment. At the same time, the Group is focusing on profitability and a competitive cost structure.
Unterf hring, November 14, 2023. Group revenues of ProSiebenSat.1 slightly decreases in the third quarter of 2023 and amounted to EUR 888 million (previous year: EUR 911 million). This decline of 3% is due to the continuing weak economy and the associated cautious approach to advertising budgets. By contrast, advertising revenues from digital entertainment offerings in the German-speaking region (Germany, Austria, Switzerland), such as the streaming platform Joyn, grew dynamically. In addition, the Commerce & Ventures companies Verivox and flaconi once again recorded significant growth. This almost completely compensated for the decline in TV advertising revenues. Organically1, i.e. adjusted for portfolio and currency effects, Group revenues were almost stable in the third quarter and amounted to EUR 866 million (previous year: EUR 877 million). Group revenues for the first nine months were EUR 2,571 million, which corresponds to a decrease of EUR 323 million or 11%. Organically1, Group revenues in this period declined by EUR 182 million or 7% compared to the previous year.
Bert Habets, Group CEO of ProSiebenSat.1 Media SE: We have taken the challenges in the market as an opportunity to realign our Group in terms of both personnel and organizational. In doing so, we are setting the course to expand our digital business areas more strongly. At the same time, we have now successfully implemented the cost efficiency program that we initiated at the beginning of the year. This applies above all to the Entertainment segment, but we have also responded to the declining revenues in the Dating & Video segment. We are confident and see a positive trend in the third quarter: Joyn recorded a very good quarter once again with an increase of 58% in AVoD advertising revenues, while the audio segment and programmatic trade of advertising time also increased their revenues dynamically. The commerce business around our majority investments and in particular Verivox and flaconi is picking up strongly. We will fully realize the savings from our efficiency program in the fourth quarter respectively in 2024.
Martin Mildner, Group CFO of ProSiebenSat.1 Media SE: After a difficult first half of the year, we managed to keep our revenues almost stable in the third quarter compared to the previous quarters, despite the continuing challenging market environment. We are seeing first signs that our clear focus on our strategically important business areas is paying off. At the same time, we are acting in an extremely cost-conscious manner - our adjusted EBITDA in this quarter is therefore above the previous year for the first time since 2021 despite the weakness of the advertising market. For the Group, we want to continue this trend and are currently expecting a slight increase in revenues and earnings in the crucial fourth quarter.
Operational development
External revenues in the Entertainment segment amounted to EUR 598 million in the third quarter of 2023 and hence 4% below the previous year's figure (previous year: EUR 621 million). Against the backdrop of the macroeconomic environment, advertising revenues in the German-speaking region decreased again compared to the previous year, although the decline of 5% was significantly lower than in the first half of the year. At the same time, digital & smart advertising revenues in the German-speaking region grew by 16%, partially offsetting the decline in TV advertising revenues. Joyn in particular saw very significant growth here. Organically1, revenues in the Entertainment segment decreased by 3% in the third quarter. Over the nine-month period, they declined by 16% to EUR 1,717 million (previous year: EUR 2,032 million). The disposal of the U.S. production business on July 1, 2022, also had an impact here
Most recent headlines
13/03/2025
(L-R) Stephanie Suganami, Tatanka Means, John Malkovich, Ayo Edebiri, and Juliette Lewis attend the premiere of Opus at Eccles Theatre in Park City. (Photo by...
13/03/2025
Spotify took center stage at the London Book Fair this week, reaffirming our commitment to the audiobook market and showcasing our impact on the publishing indu...
13/03/2025
At Spotify, we work every day to lift up new voices, giving creators the opportunity to live off their art. Through Spotify Audiobooks, our in-house publishing ...
13/03/2025
Every time airborne law enforcement (ALE) teams fly, they expect their equipment to perform. Whether airborne units are conducting support for ground teams, bor...
13/03/2025
Sunday February 9 saw the annual return of the US' biggest television event, the Super Bowl LIX. Jamie McCombs, Fox Sports Audio Consultant / Sr. Audio capt...
13/03/2025
On Sunday March 2, stars across the film industry gathered at the Dolby Theatre in Los Angeles for the 97th Academy Awards. Production Sound Mixer Paul Sandweis...
13/03/2025
WUPPERTAL, Germany Riedel Communications will feature its new StageLink family of smart edge devices, Smart Audio and Mixing Engine (SAME) and Virtual Smart Pan...
13/03/2025
TAG Video Systems and Harmonic Partner to Deliver Enhanced Real-Time Monitoring ...
13/03/2025
DigitalGlue Invites NAB Visitors to Experience New Features in Managed Storage P...
13/03/2025
FOR-A America Theme - Connecting the Present, Building the Future - Comes to Lif...
13/03/2025
CTIA, the wireless industry association, has named former FCC Chairman Aji Pai as its President and Chief Executive Officer, effective April 1. He replaces Mere...
13/03/2025
he National Association of Broadcasters is urging the FCC to end its investigation of that controversial CBS interview with Kamala Harris stating there is no ...
13/03/2025
MIAMI CBS News & Stations continues to expand its use of augmented and virtual reality technologies with the planned launch of an augmented reality/virtual real...
13/03/2025
Srividhya Srinivasan, co-founder and chief customer success & innovation Officer at Amagi, tells TVBEurope how staying ahead of the latest trends is essential f...
13/03/2025
WASHINGTON FCC Chairman Brendan Carr announced that the agency has launched a massive, new deregulatory initiative that could potentially subject virtually all ...
13/03/2025
SUNNYVALE, Calif. SDVI has announced that it has integrated its Rally media supply chain management platform with the Spectra Vail multi-cloud data management s...
13/03/2025
ATLANTA Gray Media has announced that the Federal Communications Commission (FCC) has granted a waiver of its local ownership rules to permit Gray Media to acqu...
13/03/2025
TV Tech: What do you anticipate will be the most significant technology trends at the 2025 NAB Show?...
13/03/2025
Watch Student Naomi Soleils Folk Pop Performance on The Voice The songwriting major sang Stars by Grace Potter and the Nocturnals during the blind auditions.
...
13/03/2025
Roku Debuts NWSL Zone' Within Roku Sports to Spotlight Live Games, Content Feature marks Rokus first women's league-branded zone within service By Bra...
13/03/2025
Pixels, Images, Video, AI - and Us: A Perspective on AI from NDI Inventor Andrew...
13/03/2025
SVG New Sponsor Spotlight: Lighting Design Group's Steve Brill, Dennis Size ...
13/03/2025
IOC, Comcast NBCU Ink $3B Media-Rights Extension for Olympic Games Through 2036;...
13/03/2025
NCAA March Madness Live Returns with Expanded Availability of MultiView Vertical...
13/03/2025
SVG Sit-Down: Cosm's Devin Poolman on What It Takes To Deliver the Immersive...
13/03/2025
Sky Business, Sky's B2B division, providing connectivity and content to busi...
13/03/2025
Rohde & Schwarz launches R&S NRP140TWG(N) thermal power sensor: A new benchmark ...
13/03/2025
We asked the questions, analysed the answers and now we're excited to share the results of the fifth edition of the ICG Marketing Survey.
Our 2025 survey p...
13/03/2025
SAN JOSE, Calif. - March 13, 2025 Harmonic (NASDAQ: HLIT) today announced a breakthrough in video streaming innovation with the launch of new origin capabilitie...
13/03/2025
Haivision Showcases Mission-Critical Video Solutions at SOF Week 2025
Haivision's video wall systems, ISR technology, and DoDIN APL-certified video distri...
13/03/2025
Company Leads the Way with New Software-Based Production Platform, 12G Switcher,...
13/03/2025
A new Apple Immersive concert experience, Metallica, is coming to Apple Vision Pro this Friday, March 14. Filmed in Mexico City during the sold-out second-year ...
13/03/2025
Here is your host, Patrick Kielty!
Shake your Shamrocks, Patrick Kielty will be...
13/03/2025
This St. Patrick's weekend, RT invites you to celebrate all things Irish, showcasing the very best of Irish sport, entertainment and live coverage from the...
13/03/2025
What's next in AI is at GTC 2025. Not only the technology, but the people and ideas that are pushing AI forward - creating new opportunities, novel solution...
13/03/2025
Facebook
Twitter
LinkedIn
By combining T-Mobile's robust network, Thal...
13/03/2025
Bundle up - GeForce NOW is bringing a flurry of Blizzard titles to its ever-expanding library.
Prepare to weather epic gameplay in the cloud, tackling the genr...
13/03/2025
AI is leveling up the world's most beloved games, as the latest advancements...
13/03/2025
PC game modding is massive, with over 5 billion mods downloaded annually. Mods p...
12/03/2025
O Spotify acaba de lan ar o relat rio Loud & Clear deste ano, uma vis o transpar...
12/03/2025
Spotify acaba de presentar el informe Loud & Clear de este a o, una mirada trans...
12/03/2025
Ramadan, a period of profound spiritual significance for Muslims worldwide, is a time for fasting, prayer, reflection, and community. Enrich your experience thi...
12/03/2025
Spotify has just unveiled this year's Loud & Clear report, a transparent loo...
12/03/2025
More than 70% of FAST programming has been produced since 2010, according to new Gracenote report
NEW YORK March 12, 2025 Gracenote, the content data busin...
12/03/2025
GEONA, Nev. Independent digital and linear advertising rep firm Viamedia will adopt cloud-based ShowSeeker Pilot as its primary ad campaign and order management...
12/03/2025
BRUSSELS Mediagenix has announced that Wael Yasin has joined the company as sales director Central Europe....
12/03/2025
LONDON A new study highlights opportunities for shoppable TV and the massive impact online consumer spending is having on the economy, with Omdia predicting tha...
12/03/2025
CUPERTINO, Calif. Interra Systems has announced that Comcast Technology Solutions has integrated recent updates to BATON Version 9 into its operations....
12/03/2025
Nevion announces new 400G addition to its eMerge SDN media fabric offering
Brie Clayton March 12, 2025
0 Comments
High-capacity switch enhances existi...
12/03/2025
DaVinci Resolve Studio Delivers Cinematic Sound for Adam Bol
Brie Clayton March 12, 2025
0 Comments
Feature film relies on DaVinci Resolve Studio for ...