ProSiebenSat.1 Targets 2024 Revenue Growth


On the heels of a better-than-expected Q4, ProSiebenSat.1 Media is targeting a slight gain in 2024 revenues to €3.95 billion ($4.32 billion).

The company posted 2023 revenues of €3.85 billion ($4.2 billion), a 7 percent decline. Q4 showed some improvement thanks to linear ad gains across its markets as well as demand for digital advertising on Joyn.

Bert Habets, group CEO at ProSiebenSat.1 Media, noted: “Our strategy with Joyn at the center is now starting to pay off. This is also underlined by the positive development, especially in the fourth quarter of 2023. Our goal is to further increase usage and user base of Joyn with double-digit growth rates per year. We are firmly convinced that a free offering, centered on one platform, is the key to success. We are increasingly focusing on local and live content to strengthen our TV channels and scale Joyn by investing significantly more in this area in 2024. Exclusive content is the driver that will enable us to further improve the monetization of our reach—both in traditional TV and on our digital offerings. With our focus on entertainment, we also evaluate opportunities to crystalize value from our non-core assets, depending on the market environment.”

Entertainment revenues were down 11 percent to €2.57 billion ($2.82 billion) as ad revenues dropped overall by 6 percent. The company also offloaded its Red Arrow Studios business in the U.S. in 2022, which impacted last year’s revenues.