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Pandemic Hits European TV Giant RTL's Ad Revenue, Helps Streaming Business

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European TV giant RTL says the novel coronavirus hurt first-quarter advertising revenue, but stay-at-home orders apparently helped its streaming businesses, which grew 34 percent. Details:

Advertising revenue at the company, which operates such commercial networks as RTL in Germany and France's M6, started to dip in early March as the novel coronavirus infection rate began to spike in northern Europe. That drove overall revenue for the first quarter of 2020 down 3.4 percent to $1.59 billion , RTL reported Thursday.

Revenue at RTL's core broadcast business in the first three months of 2020 was down 4.8 percent to $1.13 billion and sales at its content division Fremantle were flat at $411 million , 1.3 percent lower than the same period last year.

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