Q1 Revenue Gains for ProSiebenSat.1

Preliminary first quarter revenues at ProSiebenSat.1 Media rose by 6 percent to €867 million ($921.1 million), propelled by a recovery in ad revenues and gains at its streaming platform Joyn.

The streaming platform Joyn saw a 36 percent increase in monthly video users and a 50 percent gain in AVOD revenues when compared to the year-ago period.

Adjusted EBITDA was up 35 percent to €72 million ($76.6 million), with the European media company emerging from the year-ago net loss to post an adjusted net profit of €8 million ($8.5 million).

“As expected, we have made a very good start to the year,” noted Martin Mildner, group CFO. “This shows that the consistent implementation of our strategy is taking effect. We were able to close the first quarter of 2024 not only with revenue growth, but also with significant earnings growth due to consistent cost management. The advertising market recovered slightly at the beginning of the year, and we increased both our TV and our digital and smart advertising revenues in the German-speaking region, also benefiting from an earlier Easter compared to the previous year. At the same time, our Commerce & Ventures portfolio around Verivox and flaconi continued its dynamic and profitable growth. Over the course of the year, we will continue to intensively drive our strategy forward and consistently pursue our cash and cost management.”