European Media Giant Bertelsmann’s Revenues Soar to $21 Billion, But Profits Halve
variety.comNaman Ramachandran Revenues at European media giant Bertelsmann, the parent company of Fremantle, RTL Group, BMG and Penguin Random House, leapt 8.3% from €18.7 billion ($20.2 billion) in 2021 to €20.2 billion ($21.8 billion) in 2022.
These are the highest revenues in the company’s history. While the company’s operating EBITDA (earnings before interest, taxes, depreciation, and amortization) was maintained at €3.2 billion, the same as the previous year, despite higher start-up losses from streaming, profits halved from €2.3 billion to €1.1 billion.
In the previous year, revaluations at Bertelsmann Investments (€423 million after taxes), as well as gains on the disposal of video advertising platform SpotX and the revaluation of the Magnite [the advertising company that bought SpotX] shares (totalling €355 million after taxes), had led to the highest figure since 2006.
Bertelsmann’s overall performances echo that of its RTL Group, which saw revenues soar but profits slide, with its subsidiary Fremantle the jewel in its crown.
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