ProSiebenSat.1 Sees Revenue Grow to $4.2 Billion Despite Market Headwinds, Streaming Platform Joyn Surges

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Despite facing a tough economic climate, the multimedia conglomerate ProSiebenSat.1 Group has successfully bucked the trend, reporting a 2% increase in revenue to €3.91 billion ($4.23 billion) for the fiscal year 2024.

The earnings met the expected limits as stated by the media group, but the adjusted profit before interest, taxes, depreciation, and amortization decreased by 4% to reach $602 million compared to the last year.

It seems that the digital entertainment approach of the company is proving successful, as its streaming platform Joyn has become a notable success. Despite a drop in conventional TV advertising income, the platform managed to boost AVoD (advertising video on demand) earnings by 36%, with monthly users of videos jumping by 44% to reach 7.1 million and total viewing time escalating to 40.2 billion minutes — a 36% yearly increase compared to the previous period.

According to Bert Habets, CEO of ProSiebenSat.1 Media SE, our emphasis on the entertainment industry and the ongoing execution of our strategy are proving successful. This is evident in the significant increase we’ve seen with Joyn and the enhanced performance of our broadcast channels as the year drew to a close.”

Or more colloquially:

“Bert Habets, CEO of ProSiebenSat.1 Media SE, said that our commitment to the entertainment business and sticking to our strategy is working out. This can be seen in Joyn’s impressive growth and the improved performance of our TV channels towards the end of the year.

In another positive development, the Commerce & Ventures sector surpassed $1.08 billion in earnings for the first time, representing a 19% rise over the past year. This segment’s adjusted EBITDA nearly doubled to €$114.6 million. The primary factor fueling this growth was the Beauty and Lifestyle business, spearheaded by Flaconi, which experienced substantial expansion despite consumer caution. Additionally, Verivox managed to maintain revenue growth in a relatively steady market climate.

On the contrary, the Dating & Video sector faced challenges, reporting a decline in external earnings by 13%, amounting to $405.3 million. Additionally, this segment experienced a significant non-cash goodwill impairment loss of $417.1 million.

By 2025, ProSiebenSat.1 projects a modest increase in revenue, potentially reaching approximately $4.32 billion, with a possible fluctuation of up to $162.1 million. The company envisions Entertainment advertising revenues in the German-speaking area increasing by roughly 2% for the entire year. However, it expects traditional TV advertising revenues may decrease slightly, especially during the first half of 2025.

Regardless of plans to boost programming costs significantly, estimated at over hundreds of millions of euros, the Group projects an adjusted EBITDA of approximately $594.4 million for the year 2025. This projection is within a range of ±$54 million compared to the projected figures for 2024, indicating stability in comparison to previous years.

(Or)

In the face of proposed substantial increases in programming costs amounting to tens of millions of euros, the Group anticipates an adjusted EBITDA of roughly $594.4 million in 2025. This forecast is within a tolerance of ±$54 million compared to 2024’s figures, suggesting consistency with past years.

At the upcoming annual gathering, the executive and supervisory boards plan to recommend a dividend of $0.054 per share, which matches last year’s amount. If approved, this would result in an overall distribution of approximately $11.9 million. This equates to a payout ratio of 5%.

The company is persistently evaluating the possibility of selling off its non-entertainment related investments, notably Flaconi and Verivox, as it concentrates on its strategic Entertainment business, with active sale proceedings currently in progress.

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2025-03-06 10:17