Ad drop hits ProSieben

First half revs down 3% from last year

LONDON — German commercial TV group ProSiebenSat 1 Media said Tuesday that revenues for the first half of the year were 1 billion euros ($912 million), down 3% from last year due to a sinking advertising market.

Company’s pre-tax profits dropped to $80.35 million from $100.22 million. But net profits increased by 11% to $46.95 million, thanks to a reduction in German corporate tax rates.

“All in all we have succeeded in compensating in part for the revenue figures, proving that our family of channels is in control of costs,” CEO Urs Rohner said. “In a declining advertising market, the fusion of ProSieben and Sat 1 has proven strategically to make sense.”

In the first six months of the year, the ProSiebenSat 1 Media group garnered a 31.5% share of the 14- to 49-year-old target group, vs. 30.4% for rival RTL Group.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading