Germany's ProSiebenSat.1 Hits Earnings, Revenue Record in 2014
The broadcaster saw double-digit growth as its digital and international operations boom.
German media giant ProSiebenSat.1 had a record 2014.
In official year-end figures, released on Thursday, the company booked revenue of $3.26 billion (€2.876 billion), a 10.4 percent jump over 2013 and an all-time high for ProSiebenSat.1. The Munich-based group also posted double-digit growth in underlying net income, which was up 10.3 percent to $475 million (€418.9 million).
Perhaps more significantly, the results show a company in the midst of a transition between its old media past of free-to-air broadcasting in Germany and a new, digital future in which revenue increasingly comes from paid and online services and from content produced and sold worldwide.
For the first time last year, more than a third of ProSiebenSat.1's revenue (33.6 percent) came from outside its core TV advertising business. The company's digital and adjacent division, which has stakes in companies such as wearable tech group Jawbone, online creative collaboration site Talenthouse and French music streaming service Deezer, posted a 26.3 percent jump in revenue to $693 million (€ 610.7 million).
On the content side, ProSiebenSat.1's production division Red Arrow, which has numerous international subsidiaries, including Say Yes to the Dress producer Half Yard Productions and L.A.- based Fabrik Entertainment, producer of Amazon crime series Bosch, saw external revenue jump 63.4 percent to $230 million (€202.2 million). Some 70 percent of Red Arrow's sales now come from English-speaking markets.