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Sunday, December 4, 2022

Media group: Bertelsmann on course for growth despite difficult advertising markets

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Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
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The CEO is in good spirits. In the first three quarters of 2022, the company’s sales increased by 10 percent.

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Despite the tense TV advertising market, the Bertelsmann Group remains on course for growth. In the first nine months of this year, the media, service and education group increased its sales by 10 percent to 14.4 billion euros, as it announced on Friday. Organic growth was 5 percent.

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Group CEO Thomas Rabe was pleased with the course of the year so far. “The highest consolidated sales to date after nine months of a year makes us confident that we will exceed the 20 billion euro mark for the first time in terms of sales for the year as a whole.”

In the case of the television division RTL Group, Bertelsmann recently had to accept losses in the important advertising business. However, these were clearly overcompensated by growth at producer Fremantle and in the streaming area. The BMG music division also grew at double-digit rates.

Source: Stern

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