German Television, Streaming Group ProSiebenSat.1 Sees Revenues Fall by 7%, but Ramps Up Spending on Local Shows
variety.comLeo Barraclough International Features Editor ProSiebenSat.1 Group, which owns one of Germany’s leading broadcasters and one of its top streaming platforms, continues to feel the effects of a “challenging” economic environment, but, nevertheless, has pledged to ramp up investment in local shows.
On Thursday, the group reported revenues of Euros 3.85 billion ($4.2 billion) in the 2023 financial year, down 7% on the previous year.
Adjusted EBITDA decreased to Euros 578 million ($629 million) from the previous year’s Euros 678 million ($739 million). Net income amounted to minus Euros 134 million ($146 million) in 2023 compared with the previous year’s minus Euros 49 million ($53.4 million).
Adjusted net income decreased to Euros 225 million ($245 million) from the previous year’s Euros 301 million ($328 million).
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