Fremantle’s revenues fell by 5.6% in the first quarter of this year as owner RTL saw turnover tumble by nearly 10%. The Planet Sex, Normal People and American Gods outfit’s turnover sli…
Today’s results reiterated the €3B target and said “to reach this goal and keep up with the increasing demand for content, RTL Group will invest significantly in Fremantle – both organically and via acquisitions – in all territories across drama and film, entertainment and factual shows and documentaries.”
RTL saw group revenue slide 9% to €1.4B for the quarter, citing “challenging TV advertising markets in particular in Germany,” along with scope effects. Group revenue was down 7.7% organically. The quarter included plans to centralize RTL’s publishing arm,more than 500 roles cut and €75M of annual savings. “The geopolitical and macroeconomic environment remains volatile and the impact on RTL Group’s businesses continues to be hard to predict,” today’s report added.
In more positive news, streaming revenue from SVoDs RTL+ and Videoland was up 15.6% to €74 million , with RTL flagging the “rapidly growing number of RTL+ subscribers in Germany.”
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