ProSiebenSat.1: Increase in sales despite decline in advertising in the third quarter!

ProSiebenSat.1: Increase in sales despite decline in advertising in the third quarter!

Unterföhring (ots)

An exciting year for the ProSiebenSat.1 Group! The first nine months of 2024 brought an impressive consolidated turnover of 2,656 million euros, an increase of 3 percent compared to the previous year! Sales are a strong response to the increasingly challenging market, while values ​​in the third quarter remained stable at the previous year's level, thus illustrating the strains faced by the competition.

The digital growth was primarily due to Joyn's dynamic business, which catapulted AVoD sales by an incredible 28 percent! However, despite the difficult consumption situation for consumers, TV advertising revenues were subdued. Despite these challenges, adjusted EBITDA improved by 10 percent to 267 million euros, a strong sign of the group's resilience and strategy, which relies on the successful implementation of cost efficiency.

Market developments

The economic conditions in Germany fell short of expectations, particularly in terms of private consumption - a fact that particularly affects the TV advertising business. In the race for market share, competition from major events such as the European Football Championship and the Summer Olympics became noticeable, which had a significant impact on advertising sales. However, Joyn, the answer to the digital challenge, experienced incredible user growth with 53 percent more monthly video users!

The ProSiebenSat.1 Group remains optimistic! Despite the expected declines in the TV advertising market in the fourth quarter, the group reiterates its forecast for consolidated sales of around 3.95 billion euros. The future promises further growth in the Commerce & Ventures segment, while the group simultaneously explores strategic disposal options for non-strategic investments, including flaconi and Verivox. Discussions with potential buyers are already in full swing.