RTL Group Revenue Drops Amid Weak Ad Sales But Streaming Soars
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Revenue at RTL Group, parent of Fremantle, dropped 6.9% amid weak ad sales. Streaming revenue rose over 30%.
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TV advertising, RTL's core revenue source, is expected to decline mid-single digits in H2 2023.
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RTL's streaming services grew to 6.2M paying subscribers, up 30% year-over-year. Streaming revenue up 21%.
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RTL continues to invest in original content and streaming, expecting €200M in losses in 2023. Goal is 10M subscribers and €1B revenue by 2026.
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Despite soft ad market, RTL still backs Fremantle's goal to become €3B business by 2025 via acquisitions.