RTL Group reported lower revenue for the first half (H1) of 2025, as gains in streaming were not enough to offset declines in other areas of the business.
The Luxembourg-based media giant reported €2.78 billion (U.S. $3.08 billion) in H1 revenue, down 3.2 percent compared to last year. Streaming revenue increased 27 percent to €235 million (U.S. $260 million), driven by a higher number of paying subscribers, price increases in Germany and rising advertising income from RTL Plus in Germany and M6 Plus in France.
Adjusted EBITDA for the period declined 7 percent to €160 million (U.S. $178 million). The result exceeded analysts’ consensus estimate of €153 million (U.S. $170 million).
Advertising revenue was flat at €1.4 billion (U.S. $1.55 billion). Of that, TV advertising generated €1.01 billion (U.S. $1.12 billion), digital advertising contributed €230 million (U.S. $255 million) and radio, print and other advertising totaled €157 million (U.S. $174 million).
Fremantle, RTL’s global content division, posted revenue of €905 million (U.S. $1.00 billion) in the first half, a 5.4 percent decrease from the prior year. The company cited lower revenue from the United States and phasing effects, partly offset by the acquisition of Asacha Media Group in March 2024. The decline in the U.S. was largely anticipated, as the first half of 2024 benefited from a spin-off of America’s Got Talent.
The company reaffirmed its full-year forecast for revenue of about €6.45 billion (U.S. $7.15 billion) and adjusted EBITA of approximately €780 million (U.S. $865 million).
“In the first half of 2025, we made key steps to accelerate the transformation of RTL Group. We grew our streaming revenue by almost 30 percent, renewed our successful distribution partnership with Deutsche Telekom until 2030 and announced the acquisition of Sky Deutschland. Following a long regulatory review, we closed the sale of RTL Nederland to DPG Media,” Thomas Rabe, the CEO of RTL Group, said in prepared remarks.
“Our shareholders will benefit from the sale via an expected dividend of €5 per share (U.S. $5.55), payable in 2026. Over the past five years, we have focused RTL Group’s portfolio on our biggest business units. We have generated proceeds from disposals of more than €2.7 billion (U.S. $3 billion) with high cash returns to our shareholders,” Rabe added “We are confident to significantly increase our operating profits in the coming years, driven by improved macroeconomic conditions in Germany, streaming profitability and synergies from the Sky Deutschland acquisition, when approved by the regulators.”
