RTL Group, Europe's largest commercial TV company and owner of production giant Fremantle (American Idol), on Friday reported a 9.5 percent fall in revenue and a nearly 28 percent drop in profits for 2020 due to the coronavirus pandemic.
But it was upbeat on what it called a "strong rebound" in TV advertising at the end of the year, and major growth in its streaming business.
RTL booked $7.21 billion (6.017 billion euros) in overall revenue last year, with profits of $749 million (625 million euros).
Last yearwas a year of consolidation for RTL, which sold off Canadian online multichannel network BroadbandTV and French cash-back site iGraal for a combined $189 million (158 million euros), as well as signed a deal, not yet closed, for the.
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