ProSiebenSat.1 turns in higher profits on lower revenues

Commercial broadcaster ProSiebenSat.1 turned in improved profitability on lower revenues in the third quarter.

ProSiebenSat.1’s consolidated third-quarter revenues fell by 7.9% or €480.2 in the third quarter. German-speaking TV activities posted a decline in revenues of 2% to or €6.9m for the quarter. However operating profit grew by 1.8% to €94.4m.

The German family of channels increased their viewing share by 0.8% to 30.5% in the third quarter.

CEO Thomas Ebeling said that there were opportunities to generate additional revenues even in such a challenging market, and pointed to the successful expansion of the group’s music business in the third quarter as an example. He said ProSiebenSat.1 needed to expand its subscription-based activities as well as marketing advertising opportunities that had not been exploited to date to combat the downturn in traditional ad sales.