German media conglomerate ProSieben Sat.1 Group earned €907 million (around U.S. $990 million) in overall revenue during the second quarter (Q2) of the year, the company revealed this week.
The figure marks a 5 percent increase in overall revenue when compared to the prior year. ProSieben Sat.1 says it earned €1.7 billion (around U.S. $1.9 billion) in overall revenue during the first half of 2024, which was also up 5 percent on a year-over basis.
Executives touted gains in ProSieben Sat.1’s entertainment businesses, as well as “continued positive trends in the commerce and venture segments” for its overall revenue growth. An uptick in advertising against linear channels offering the UEFA European Championships tournament and growing adoption of streaming service Joyn were among the positive notes offered by ProSieben Sat.1 this week.
“We are pleased with our business performance in the first two quarters of the year,” Bert Habets, the CEO of ProSieben Sat.1 Group, said in a statement. “Our strategy to focus on entertainment with increased content investments while continuing to implement operational cost efficiencies is starting to pay off.”
Joyn operates as an ad-supported video on-demand (AVOD) platform in the DACH region, which includes Germany, Austria and Switzerland. Habets said the company remains laser-focused on building the service into the premier destination of free, ad-supported streaming TV content that attracts German-speaking audiences across the three countries.
“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,” Habets affirmed. “Furthermore, we are positioning Joyn as the perfect partner for advertisers and media agencies as we now offer combined TV and digital reach.”
ProSieben Sat.1 is also focused on nurturing its distribution partnerships with leading telecom providers, including Sky Germany and Deutsche Telekom, which offer its linear multiplex channels like ProSieben, Sat.1 and Kabel Eins (Cable One), to their pay TV subscribers.
