Naman Ramachandran Revenues at Bertelsmann’s Luxembourg-based RTL Group, a media giant which owns Fremantle, dipped 5.2% to €6.2 billion ($6.7 billion) for the financial year 2023.
The company attributed this to lower TV advertising revenue and lower Fremantle revenue. The company’s EBITA (earnings before interest, taxes and amortization) slid to €782 million, down from €922 million in 2022.
Fremantle, RTL’s content arm, had a strong year from an awards point of view, with its Element Pictures producing Golden Globe, BAFTA and Oscar winner “Poor Things.” However, revenue fell from €2.3 billion to €2.2 billion and EBITA from €162 million to €139 million.
RTL is targeting full-year revenue of €3 billion for Fremantle by 2025/2026. There was good news on other fronts. RTL Group’s family of TV channels in Germany increased its lead over main commercial competitor ProSiebenSat1 to 5.8 percentage points, the highest lead in the last 10 years, the company said.
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