Revenues Slip at RTL Group

Group revenues for 2023 at RTL Group slipped by 5.4 percent to €6.2 billion ($6.7 billion), with a total profit of €598 million ($651 million).

”In 2023, we demonstrated the resilience of our businesses in a particularly challenging environment,” said Thomas Rabe, CEO. “As announced, we invested through the cycle. We grew our streaming services, extended our market leadership positions, in particular in Germany, and released globally acclaimed content. The second half of 2023 was one of the most profitable half-years in the history of RTL Group despite weak advertising markets and significant investments, enabling us to pay an attractive dividend. Our shareholders will also benefit in 2025 from the value crystallized by the expected sale of RTL Nederland for €1.1 billion. Our strategic framework remains unchanged. It will continue to guide us in 2024: to strengthen our core businesses, to grow our streaming and content businesses, and to build alliances and partnerships.”

Advertising revenues slipped to €3.1 billion, with TV advertising down 8.2 percent to €2.4 billion, with digital at €364 million. Streaming was a bright spot for the company, with paying subs in Germany, Hungary and France up 30.5 percent to 5.6 million. Overall streaming revenues surged by almost 73 percent to €283 million ($308.5 million). RTL Group aims to increase its streaming content spend per year from €270 million ($294 million) to €500 million ($545 million) in 2026, when it expects to reach 9 million subs and €750 million ($818 million) in streaming revenues.

Fremantle revenues fell by 3.5 percent to €2.27 billion ($2.5 billion), mainly due to timing and foreign exchange rate effects.