ProSiebenSat.1 Touts Joyn Gains in Latest Financials

For the first nine months of the year, ProSiebenSat.1 Media reported revenues of €2.66 billion ($2.8 billion), a 3 percent increase on the same period last year thanks to gains in digital advertising, while Q3 results were flat at €882 million ($930 million).

“Private consumption, which is decisive for our TV advertising business, has not developed as positively as we expected at the beginning of the year,” said CFO Martin Mildner. “Nevertheless, we closed the first nine months in line with our expectations for 2024. Despite the difficult economic environment, we are making good progress in implementing our strategy and practicing consistent cost management. Furthermore, we are particularly pleased with the growth rates in both digital and smart advertising revenues and in the commerce and ventures segment. They contrast with the figures for the overall economic development in Germany.”

Joyn’s AVOD revenues rose by 28 percent in the first nine months, with the number of monthly video users increasing by 53 percent to 6.8 million. Overall, digital and smart advertising revenues increased by 7 percent in the nine-month period. Total advertising revenues were stable. External revenues in the entertainment segment increased by 2 percent to €1.7 billion ($1.8 billion).