ProSiebenSat.1 Sees Revenue Grow to $4.2 Billion Despite Market Headwinds, Streaming Platform Joyn Surges [Yahoo! Finance]
PROSIEBENSAT1 MEDIA U/ADR (PBSFY)
NASDAQ:AMEX Investor Relations:
prosiebensat1.com/en/contact/investor-relations
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Source: Yahoo! Finance
The results fell within the media conglomerate's communicated target ranges, though adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) dipped 4% to $602 million compared to the previous year. More from Variety German Film Law Does Away With Diversity Clause, but Local Producers Remain Optimistic: It's 'Part of Our Culture and We're Not Going to Give It Up' German Powerhouse RTL Group Renews Pact With Deutsche Telekom in Streamer RTL+ as Subs Grow Germany's Hastily Passed New Film Funding Law Has Room for Improvement but Is 'Good News' for Hollywood, Industry Experts Say The company's digital entertainment strategy appears to be bearing fruit, with its streaming platform Joyn emerging as a standout performer. While traditional TV advertising revenues declined, the platform achieved a 36% increase in AVoD (advertising video on demand) revenues, with monthly video users surging 44% to 7.1 million and viewing time climbing to 40.2 billion minutes —
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