ProSiebenSat.1 Reports Q4, 2009 Profit

MUNICH: ProSiebenSat.1 Media has reported improved results for 2009, with a fourth-quarter profit of 113.4 million, as compared with a 170 million euros loss in the year-ago period, and a full-year profit of 144.5 million euros, versus the 129.1 million euros loss in 2008.

Revenues, however, were down in the year, falling 5.5 percent to 2.8 billion euros, while Q4 revenues rose slightly to 880.5 million euros. The improved profit was attributed to efficient cost management. CEO Thomas Ebeling noted: “Thanks to continuous cost management and our good performance in the fourth quarter, we have been able to return the company to profitability in 2009. Thereby, ProSiebenSat.1 showed that creativity is not just a matter of budgets. Our growing success with viewers and clients is the best evidence that programming quality and efficient cost management go hand in hand.”

Ebeling continued: “To ensure that we can continue to grow profitably in this market environment, we will be maintaining firm cost controls. We demonstrated as a group in fiscal 2009 that we can work creatively and intelligently with limited resources—and that we remain competitive also in difficult advertising markets. We introduced initiatives in many parts of the group to increase our efficiency and to tap additional revenue sources in 2009. Examples for new revenue models are the concept of “media for revenue share”, where we swap advertising time against a share of revenues, the expansion of our pay-TV business and our involvement in related businesses like event and live management. We need to pursue the same kind of approach for 2010.” 

The European broadcasting group also announced the appointment of Dan Marks to its Executive Board effective May 1, succeeding Marcus Englert, who is leaving the company. Marks will serve as chief new media officer, responsible for the further development and coordination of the group’s digital strategy and for the operational management of the online, pay TV and video-on-demand operations in particular. He was most recently CEO of BT Vision in the U.K.