ProSiebenSat.1 Reports Strong Start to 2024, Confirms Annual Outlook

ProSiebenSat.1 Media SE announced a promising start to 2024, with a 6% increase in first-quarter revenues, amounting to EUR 867 million, up from EUR 816 million in the same period last year. This growth is attributed primarily to a resurgence in TV advertising revenues and a strong performance in digital advertising, particularly from the streaming platform Joyn.

Joyn's monthly video users rose by 36%, and its AVoD revenues jumped by 50% compared to Q1 2023. Although the Dating & Video segment did not perform as well as last year, the Digital Platform & Commerce sector, including Verivox and flaconi, showed significant growth and high profitability.

The company also reported a 35% increase in adjusted EBITDA, reaching EUR 72 million, up from EUR 53 million in the previous year. This was despite increased investments in programming aimed at boosting local content for linear TV and Joyn's growth. Cost management strategies continued to positively impact earnings.

Adjusted net income for Q1 2024 also improved significantly, with a year-on-year increase of EUR 22 million, resulting in net income of EUR 8 million, compared to a loss of EUR 15 million in Q1 2023. ProSiebenSat.1 has confirmed its full-year revenue target of approximately EUR 3.95 billion and an adjusted EBITDA of EUR 575 million for 2024, aligning with last year's figures.