By our economics editors
Nov 8, 2023 at 5:11 PM Update: 43 minutes ago
Media company RTL Group is suffering from advertisers who spend less money on advertisements. Companies are holding back on their marketing spend due to poor economic prospects. Due to the advertising dip, RTL’s turnover in the first nine months of 2023 was 7 percent lower than last year, at 4.66 billion euros.
The international parent company of RTL 4 and RTL 5, among others, is more gloomy about the rest of the year. RTL assumes an annual turnover of 6.9 billion euros, 100 million less than intended. The expected annual profit is also 50 million euros lower and amounts to 900 million euros.
In addition to a fluctuating advertising market, RTL also suffered from poor sales of programs by its own production house Fremantle. This yielded 1.53 billion euros in the past nine months, 7 percent less than in the same period last year. At the same time, the company is increasingly focusing on the streaming services market.
The influx of 16 percent new subscribers to their Videoland platform was a bright spot. Together with the increase in new subscribers to RTL+, RTL has already generated 263 million euros in streaming revenues this year, 21 percent more than a year earlier.
Image: ANP
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2023-11-08 16:11:07
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