RTL Posts Stronger Third-Quarter Figures on Growth in Key Markets
The parent company of "Idols" and "X Factor" producer FremantleMedia sees revenue for the first nine months of the year jump to $5.5 billion on growth in Germany, France and the Netherlands.
COLOGNE, Germany – Stronger advertising revenues from Germany, France and the Netherlands and the continued success of production subsidiary FremantleMedia, makers of American Idol and X Factor, boosted third-quarter profits and revenue at European broadcast giant RTL Group.
The company said Wednesday that revenues jumped 6.6 percent to $1.7 billion (€1.2 billion), while operating profits ticked up 8.3 per cent to $198 million (€144 million) in the three months ended Sept. 30.
The growth came from RTL’s core businesses of free-to-air TV and production. Commercial TV operations in Germany, the Netherlands and France all increased audience share and ad revenue for the quarter while RTL’s production subsidiary FremantleMedia continues to be a dominant player in the global format business with hit shows including Idols, X Factor and Farmer Wants a Wife.
For the first nine months of the year, RTL’s earnings hit $5.5 billion (€3.99 billon), a 4.4 percent jump, and operating profits were up 4.6 percent to $966 million (€701 million).