Due in part to its strong production activities and growing digital business, German broadcasting group ProSiebenSat.1 saw a 3% increase in revenue and a 65% boost in profit in 2019, despite a weakening TV ad market.
The Munich-based company, which counts the transatlantic production group Red Arrow Studios among its many assets, on Thursday posted annual earnings of €412 million ($459.8 million) on sales of €4.1 billion ($4.57 billion).
Growth drivers at the company included its digital and smart advertising business, where revenue grew by 38%; Red Arrow Studios, which was up 18%; and its commerce unit NuCom Group, where revenue grew by 16%.
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