Revenues at Bertelsmann’s Luxembourg-based RTL Group, a media giant which owns Fremantle, slid 9% to €1.4 billion ($1.5 billion) for the first quarter of 2023, financial results released on Thursda…
While the report notes that the “geopolitical and macroeconomic environment remains volatile and the impact on RTL Group’s businesses continues to be hard to predict,” the group’s outlook is robust, albeit “subject to a rebound of the TV advertising markets in the second half of 2023, in particular in Germany.”
The group expects its full-year revenue for 2023 to increase to between €7.3 and €7.4 billion and its adjusted EBITA for 2023 to be between €1.0 and €1.05 billion. Streaming start-up losses are expected at just below €200 million . Consequently, the group expects its adjusted EBITA before streaming start-up losses to be between €1.2 and €1.25 billion .
Thomas Rabe, CEO of RTL Group, said: ”RTL Group made good progress on its strategic and operational agenda in the first quarter of 2023. We strengthened our core business with audience share gains in our largest markets, Germany and France, and renewed the exclusive broadcasting and streaming rights for the Uefa Europa and Conference League in Germany. We are pleased with the strong growth of our streaming businesses, adding more than 400,000 paying subscribers in the first quarter alone.
“In line with our expectations, TV advertising markets were very challenging in the first quarter. As noted in March, our outlook is based on a rebound of the TV advertising markets in the second half of the year, in particular in Germany. On this basis, we confirm our outlook for the full year 2023,” Rabe added.
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