On the heels of advertising revenue gains in the second quarter, ProSiebenSat.1 Group has upgraded its projected full-year revenues.
ProSiebenSat.1 Group saw its second quarter revenues rise by 47 percent to €1.05 billion ($1.2 billion). The company pointed to significant ad revenue gains in the period, with an increase of 56 percent compared to Q2 last year. In 2020, ProSiebenSat.1 saw its ad revenues drop by 15 percent in Q1 and 37 percent in Q2 amid the pandemic.
On the basis of the second-quarter recovery, the company is now projecting 2021 revenues of between €4.4 billion and €4.5 billion, up from the previously forecast €4.25 billion to €4.45 billion.
Rainer Beaujean, chairman of the executive board, noted, “The significant recovery and clear growth of our advertising revenues in the second quarter show how attractive the medium of TV continues to be. We are optimistic that this trend will continue in the course of the year. We also want to use this positive environment to continuously expand reach and market shares of our stations and platforms. At the same time, we continue to work on the increasing diversification of ProSiebenSat.1 in order to secure our profitable growth also in the long term. In this context, our focus is on strengthening our cash flow, further reducing our debt and improving our P7S1 return on capital employed to over 15 percent in the mid-term. To this end, we are systematically leveraging the synergies between our three strong segments Entertainment, Dating and Commerce & Ventures.”