RTL Group Revenue Drops in Q3 Due to ‘Persistent Weakness’ of TV Ad Markets
Ellise Shafer RTL Group, the European broadcasting company that owns Fremantle, reported a 6.9% drop in revenue from January to September, due in part to the “persistent weakness” of TV advertising markets. In Q3 alone, group revenue was down 10.3% to €1.6 billion, with the company saying 9.2% of this happened organically due to “timing effects at Fremantle and lower TV advertising revenue.” Due to the current advertising landscape, particularly in Germany, RTL expects that TV ad revenue will decline by a “mid-single-digit percentage” in the second half of the year, with Fremantle’s yearly revenue also tracking lower than expected because of a decrease in buyer activity.