ProSiebenSat.1 Media said its first-quarter revenues were up 4 percent to €913 million ($1 billion), driven by its content production, global sales and commerce businesses.
EBITDA for the period was up 36 percent to €180 million ($202 million). Net profit was €122 million ($137 million).
“We are making progress in executing our strategy,” said CEO Max Conze. “Thanks to our consistent local content and digital push we are winning with audiences and users. While much remains to be done, we are investing in the future of our business and concentrating on our priorities: Our unique streaming platform Joyn [its joint venture with Discovery, Inc.] will play a decisive role. We are progressing our technology roadmap especially on smart reach and working on a consistent reach currency. With all this, strategic partnerships in Germany and Europe will also be an important lever.”
The entertainment segment, which includes its broadcast stations, saw revenues fall by 7 percent in the period, with ad revenues down 4 percent.
Red Arrow Studios, ProSiebenSat.1’s content production and global sales segment, reported revenues that were 38 percent higher, led by the German, U.S. and U.K. production businesses and Studio71.
The commerce segment reported revenues that were 25 percent higher.