German TV powerhouse ProSiebenSat.1 generated a revenue of €3 billion during the first nine months of 2022. Despite a challenging market environment which has been impacted by the inflation and the war in Russia, the company’s revenue dropped by only 4% on the previous year.
ProSiebenSat.1 Group said the company’s revenues were “significantly influenced by the macroeconomic environment,” including the “persistently high inflation and increasing consumer restraint,” in the region of Germany, Austria and Switzerland. The group said these factors have “particularly affected the advertising market.”
“It is especially in these times that we are systematically pursuing our transformation. We are investing in the digital future of our Group. As an early-cyclical company, we are thus very well positioned to benefit directly from an economic recovery, especially in the advertising market,” Gierig continued.