RTL Group Revenue, Profits Hit by Weak Advertising, Streaming Business Continues Growth, Half Year Results Reveal
, slid 5.1% to €3.1 billion for the first half of 2023, financial results released on Tuesday have revealed.
Adjusted EBITA was down to down to €250 million compared to €501 million during the same period in 2022 and group profit was at €132 million, more than 50% down €304 million in 2022. The company attributes this to “challenging TV advertising markets, in particular in Germany.” On the bright side, the group’s streaming services RTL+ and Videoland continued growing apace with paying subscribers up 34.1% to 6 million, streaming revenue up 16.9%.
RTL’s content creation arm Fremantle saw a surge in revenues from €983 million to €1 billion but a dip in EBITA from €60 million to €36 million. The group now expects adjusted EBITA of around €950 million for the full year 2023 , subject to stable to slightly growing TV advertising revenue in the second half of the year, “given continued high level of uncertainties.”
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