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ProSiebenSat.1 Sees Revenue Grow to $4.2 Billion Despite Market Headwinds, Streaming Platform Joyn Surges

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  German media giant reports revenue growth to $4.23 billion for 2024, with streamer Joyn seeing 44% growth while traditional TV advertising declines.

ProSiebenSat.1, a German media company, reported a revenue increase to €4.2 billion in 2023, despite facing market challenges. The company's streaming platform, Joyn, experienced significant growth, with a 30% increase in monthly video users, reaching 6.3 million, and a 20% rise in streaming minutes. This growth in digital offerings helped offset declines in traditional TV advertising revenue. CEO Bert Habets highlighted the company's strategic shift towards digital and entertainment, noting that while the economic environment was tough, their focus on digital transformation and cost management was paying off. However, the company's adjusted EBITDA decreased by 15% to €617 million, reflecting the broader economic pressures and the costs associated with digital expansion.

Read the Full Variety Article at:
[ https://www.msn.com/en-us/money/companies/prosiebensat1-sees-revenue-grow-to-42-billion-despite-market-headwinds-streaming-platform-joyn-surges/ar-AA1AlVc3 ]