ProSiebenSat.1 sees revenue dip as ad market softens and World Cup competition rises

ProSiebenSat.1, controlled by the MediaForEurope group, announced first-half revenue of €1.54 billion, a 9% decline from the prior year and a 2% drop on an organic basis, with Q2 revenue falling 8.5%. The slump reflects a sluggish German television advertising market and competition from broadcasters showing the World Cup, which pressured linear TV ad sales that fell 9%. Conversely, digital and smart advertising increased 6%, driven by the Joyn streaming platform, third-party content distribution, and its audio business, with Joyn’s ad-supported revenue up 8% and subscriptions up 20%.

Aggressive cost-cutting and restructuring eliminated a €28 million EBITDA loss from a year earlier, delivering €124 million in EBITDA. The group also sold six non-core assets, including Studio71 U.S., and is expanding Joyn through a partnership with ZDF and a shared streaming technology platform with MediaForEurope. Despite the revenue dip, the company kept its full-year outlook for modest organic growth and higher EBITDA, warning that German ad market visibility remains limited.