ProSieben Sat.1 grows revenue during Q2
ProSieben Sat.1 saw its quarterly and first-half revenue increased by 5 percent each, spurred by higher use of Joyn and gains in its entertainment business.
ProSieben Sat.1 Media Group is a mass media conglomerate based in Unterföhring, Germany. The company owns several free-to-air and pay television networks, including ProSieben, Sat.1, Kabel Eins and Sixx, as well as the domestic streaming service Joyn.
ProSieben Sat.1 saw its quarterly and first-half revenue increased by 5 percent each, spurred by higher use of Joyn and gains in its entertainment business.
Separately, executive board member Christine Scheffler will leave at the end of the month.
German streaming service Joyn is now available to customers of Deutsche Telekom’s television service Magenta TV.
ProSieben Sat.1 says it will soon end its practice of acquiring content from major Hollywood studios through long-term output deals.
The German broadcaster said the layoffs are part of a broader restructuring of its business.
ProSieben Sat.1 installed a new supervisory board at the company’s annual shareholder meeting in Unterföhring last week.