Bertelsmann’s Luxembourg-based media giant RTL Group, which owns Fremantle, has declared a group profit of €1.5 billion ($1.65 billion) for 2021, up from €625 million in COVID-affected 2020.

The RTL Group has interests in 67 television channels, 10 streaming platforms and 38 radio stations. The group’s content business, Fremantle, is one of the world’s largest creators, producers and distributors of scripted and unscripted content, including “American Idol,” “Britain’s Got Talent” and “The X Factor.”

Full-year group revenue was up 10.3% to €6.6 billion of which Fremantle accounted for €1.92 billion, a 25.3% increase. The group’s full-year adjusted EBITA climbed 35.1% to €1.1 billion, up from €853 million in 2020. Of this Fremantle accounted for €141 million.

The group reiterated its ambition of growing Fremantle’s revenue to €3 billion by 2025.

TV advertising revenue was up 16% and streaming revenue rose 31.2% compared to 2020.

Thomas Rabe, CEO of RTL Group, said: “RTL Group’s growth businesses of streaming and content progressed significantly in 2021, with more than 3.8 million paying subscribers for RTL Plus and Videoland, and 81 new drama productions from Fremantle. We have significantly raised our streaming targets. Compared to 2021, we plan to triple the annual content investments to around €600 million by 2026. On this basis, we aim to grow the number of paying subscribers for RTL Plus and Videoland to 10 million by the end of 2026, to increase our streaming revenue to €1 billion and to reach profitability in 2026. In 2022, we will expand RTL Plus to become a cross-media entertainment service, comprising video, music, podcasts, audio books and e-magazines. This will add significantly to the growth of RTL Plus. In addition, we will accelerate the expansion of our content production business, Fremantle — both organically and via M&A — with a revenue target of €3 billion by 2025.”

Click here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news, and more.

RTL is part of several consolidation moves in Europe, which Rabe said would “create significant value for RTL Group’s shareholders and stronger positions to compete with the global tech and streaming platforms.” These include negotiations to merge the activities of Groupe TF1 and Groupe M6 to create a major French media group; and agreement with Talpa Network to merge their broadcasting and other media businesses in the Netherlands; the sale of RTL Belgium to Belgian media companies DPG Media and Groupe Rossel; and an agreement with Central European Media Enterprises for the sale of RTL Croatia. The deals are subject to regulatory approval.

In July 2021, RTL Deutschland acquired the outstanding 50% shareholding in Super RTL from its former joint-venture partner, The Walt Disney Company, and now owns 100% of the company.