Q1 Revenues Up 6 Percent at ProSiebenSat.1

Powered in part by a recovery in its ad markets, ProSiebenSat.1 Media reported a 6 percent gain in Q1 revenues to €867 million ($937.8 million), with its adjusted EBITDA up by 35 percent to €72 million ($77.9 million).

“Our strong start to the year shows that we are on the right track,” said CFO Martin Mildner. “In 2023, we set a new course both operationally and strategically. In the first quarter, we are now seeing the first clear effects of our efficiency measures. At the same time, the advertising business, which is particularly important for us, is continuing to recover. Even though the market and economic environment remains challenging, we are looking to 2024 with confidence. We are therefore confirming our full-year outlook. We will continue to focus clearly on the strategically relevant business areas related to our Entertainment portfolio and continue our consistent management of costs and cash flows.”

Entertainment revenues were up 5 percent to €554 million ($599.3 million), led by gains in both TV and digital advertising. Revenues in the commerce and ventures segment were up 20 percent to €206 million ($222.8 million), while the dating and video segment slipped by 9 percent to €107 million ($115.7 million).