German Television, Streaming Group ProSiebenSat.1 Sees Revenues Fall by 7%, but Ramps Up Spending on Local Shows
Leo 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).