Digital activities – notably online video and digital ventures and commerce including online dating and lifestyle e-commerce – contributed to solid growth for German media group ProSiebenSat.1 in the first quarter.
The success of ProSieben’s online video activities was partly offset by a decline in adjacent activities including the deconsolidation of its games business, leading to an overall increase in revenues for that unit of 2% to €97 million and a slight dip in EBITDA. However digital ventures and e-commerce, particularly dating site ElitePartner, saw dramatic growth, with the unit posting sales of €229 million, up 53%.
Broadcast revenues made more modest progress, with German-speaking area broadcast turning in sales of €502 million, up 2%, thanks to increased distribution revenues. TV advertising revenues were stable.
Content product saw strong growth of 24% to €78 million, with the unit’s adjusted EBITDA almost doubling to €9 million.
ProSiebenSat.1 Group as a whole saw revenue for the quarter rise by 13% to €910 million, while adjusted EBITDA grew by 10% to €188 million.
“We’ve started well into 2017. The most important growth driver is our commerce portfolio, which has accelerated our revenue growth and sustainably strengthened the earnings base of the Group. Today, we are already generating a significant share of our revenues with new and digital business models. We are well on track to achieve our revenue and profitability targets for 2018,” said ProSiebenSat.1 Media CEO Thomas Ebeling.