RTL Group ended the first half with 6.041 million paying subscribers to its streaming services RTL+ in Germany and Hungary and Videoland in the Netherlands.
This, according to the company in its latest results, was 34.1% more than the 4.506 million total posted a year earlier.
Paying subscribers to RTL+ increased 31% year on year to 4.489 million (3.427 million in June 30, 2022), with the strategic partnership with Deutsche Telekom to bundle RTL+ Premium within Magenta TV contributing significantly to the growth. Meanwhile, paying subscribers to Videoland grew 17.5% year on year to 1.268 million (1.079 million in June 30, 2022), driven by its diverse content offering. In Hungary, RTL+, including RTL+ Active, had 0.285 million paying subscribers, the service having made its debut in November 2022. RTL Group’s streaming revenues amounted to €152 million in H1, up from €130 million in the same period last year.
RTL Group has also confirmed its streaming targets of 10 million subs and revenues of €1 billion in 2026, when it will reach profitability. Content spend in 2026 will amount to around €600 million.
RTL Group’s H1 revenues amounted to €3.1 billion, down 5.1% on the same period last year. Adjusted EBITDA was €376 million (€611 million) and group profit €132 million (€304 million).
RTL Group expects full-year revenue for 2023 of around €7.0 billion (previous guidance: €7.3 billion to €7.4 billion). It also expects streaming start-up losses of around €200 million (previous guidance: just below €200 million).
