RTL Group ended 2020 with 2.19 million paying subscribers to its streaming services TV Now in Germany and Videoland in the Netherlands.
This, according to the company in its latest set of results, was 52% more than a year earlier.
The biggest growth was enjoyed by TV Now, with the paying subscriber base growing 64% to 1.286 million. Videoland, on the other hand, saw its increase by 38% to 0.903 million.
RTL Group says it aims to grow its total number of paying subscribers in Germany and the Netherlands to between 5 and 7 million, to grow streaming revenue to at least €500 million and to reach adjusted EBITA break even by 2025. To reach these goals, it will increase annual content spend for TV Now and Videoland to €350 million in 2025.
RTL Group had revenues of €6,017 million in 20920, down 9.5% on the previous year. Its adjusted EBIT was €903 million (-22.2%) and profit €625 million (-27.7%).
Of the latter, €492 million (-34.8%) was attributable to RTL shareholders.
