Media: ProSiebenSat.1 is making another loss

Media: ProSiebenSat.1 is making another loss

The television company ProSiebenSat.1 is expanding its losses. Important revenue is missing from TV advertising revenue and the Parship Group, among other things.

The television company ProSiebenSat.1 slipped deeper into the red last year. The loss amounts to 134 million euros, after a loss of 49 million in the previous year, as the company in Unterföhring near Munich announced.

The board still wants to pay out a dividend of 5 cents per share to the shareholders. For the current year, he expects slight sales growth and an adjusted operating result at the same level as last year.

The uncertainty among consumers and the associated reluctance of the advertising industry particularly characterized the first half of 2023, explained ProSiebenSat.1. Sales increased in the final quarter. However, for the year as a whole, group sales fell by 7 percent to 3.85 billion euros.

Joyn sets a record

In addition to declining TV advertising revenues, the sale of the US production business of Red Arrow Studios and the decline in sales of the Parship Group’s dating platforms also contributed to this. Sales in the digital advertising business, which also includes the streaming platform Joyn, and the business of the comparison platform Verivox and the online perfumery Flaconi have grown. The group’s adjusted operating profit fell by 15 percent to 578 million euros.

The strategy presented a year ago with Joyn at the center is now paying off. This shows the positive development, especially in the fourth quarter, said Habets. With 6.3 million monthly users in the final quarter, Joyn set a record. The aim is to increase usage with double-digit growth rates per year. ProSiebenSat.1 relies on a free offer and more local and live content, at the expense of films and series from Hollywood.

Source: Stern

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