Q2 Gains for ProSiebenSat.1

Revenues at ProSiebenSat.1 Media rose by 5 percent in the second quarter to reach €907 million ($989.6 million), driven in part by AVOD gains.

“We are pleased with our business performance in the first two quarters of the year,” said Bert Habets, group CEO. “Our strategy to focus on entertainment with increased content investments while continuing to implement operational cost efficiencies is starting to pay off. The dynamic growth of Joyn in particular shows that we are on the right track: We will establish Joyn as the leading super streamer that is free for everyone in the German-speaking region. Furthermore, we are positioning Joyn as the perfect partner for advertisers and media agencies, as we now offer combined TV and digital reach. At the same time, our distribution partnerships, which we recently concluded with Sky and Deutsche Telekom, and the launch of Joyn in Switzerland are important steps towards expanding our reach.”

Entertainment revenues were up 3 percent to €612 ($667 million), as digital advertising gains compensated for flat TV advertising revenues. AVOD revenues at Joyn were up 25 percent in Germany.

Commerce and ventures revenues rose by 17 percent to €197 million ($215 million), while dating and video revenues fell by 9 percent to €98 million ($107 million).

Adjusted EBITDA rose by 14 percent to €91 million ($99 million).