ProSiebenSat.1’s Third-Quarter Revenues Dip 13% To $956M As Ad Market Downturn Bites

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German broadcasting powerhouse ProSiebenSat.1 Media has posted third quarter group revenues of €921M ($955.7M), a drop of 13%. Profits also fell from EUR162M in the same three months last year to €…

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In German-speaking regions, advertising downturn impacts were down 10% to €430M. Even so, rumors have emerged this month that the company is keen to acquire Sky’s German TV operation. However, it said “persistently high inflation and increasing consumer restraint” in Germany, Austria and Switzerland had “significantly influenced” the revenues it posted, with the advertising market particularly hit, hence the NuCom impairment. It also noted last year’s third-quarter group revenues were at a record high, as the world recovered from the worst effects of the pandemic.

 

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