RTL Group, Fremantle’s Revenues Slide, Streaming Business Grows, Quarterly Results Reveal
variety.comNaman Ramachandran Revenues at Bertelsmann’s Luxembourg-based RTL Group, a media giant which owns Fremantle, slid 9% to €1.4 billion ($1.5 billion) for the first quarter of 2023, financial results released on Thursday have revealed.
The group attributes this to “significantly lower TV advertising revenue,” particularly in Germany, and the disposals of RTL Belgium and RTL Croatia.
Fremantle’s revenues were down 5.6% to €435 million (Q1/2022: €461 million), mainly due to timing effects of production deliveries, the group said.
The group’s total advertising revenue fell to €700 million (Q1/2022: €829 million), of which €545 million represented TV advertising revenue (Q1/2022: €653 million), €76 million digital advertising revenue (Q1/2022: €83 million) and €39 million radio advertising revenue (Q1/2022: €46 million).
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