RTL Group Reports Stable Q3 Group Revenues

Group revenues at RTL Group were stable in the third quarter at €1.34 billion, despite ad revenues dropping 2.8 percent and Fremantle revenues slipping 4.5 percent.

Ad revenues were down 2.8 percent to €658 million compared to the year-ago period. Losses in TV advertising revenues were partially offset by a 40.2 percent year-over-year increase in digital advertising revenues.

Fremantle revenues dipped 4.5 percent year-over-year to €447 million, mainly due to lower contributions from Asacha Media Group.

Streaming revenues were up 24.9 percent to €116 million compared to the year-ago period, aided by the growing advertising revenue on RTL+ in German and M6+ in France. Paying subscribers are currently at 7.6 million, and RTL Group is aiming for 8 million by the end of 2025.

“The market environment remains challenging, with a reduction of TV advertising revenue in our core markets and an accelerated shift from linear TV to streaming,” noted Thomas Rabe, CEO. “All streaming performance indicators—revenue, paying subscribers and viewing time—continue to point in the right direction. With 7.6 million paying subscribers at the end of September, we are confident to pass the 8 million mark by the end of this year. In 2025, we will reduce streaming startup losses by more than half to around €50 million and thus remain firmly on track for a profitable streaming business in 2026.

“The German and French TV advertising markets have not gained momentum in the second half of the year as expected. For this reason, and despite additional gains in TV advertising market share in Germany and strict cost management, we are revising our adjusted EBITA guidance for 2025 from around €780 million to €650 million.

“Short-term challenges do not change our medium-term adjusted EBITA target of €1 billion. This is based on our strong market positions, streaming profitability from 2026 onwards, synergies from the acquisition of Sky Deutschland of €250 million, significant cost reductions and AI benefits.

“We are well-positioned when the markets regain momentum. And once we have received regulatory approvals for the acquisition of Sky Deutschland, we will integrate the business with RTL, realise the targeted synergies and further boost our streaming business.”