ProSiebenSat.1 grew its revenues from digital and smart advertising offerings in the German-speaking region by 12% in Q2 2024 compared to the previous year’s quarter, while total advertising revenues increased by just 1%.
The German media company attributes the increase to the revenue dynamics of Joyn, confirming its strategic focus on the streaming platform’s ad-financed, free business model and at the same time underlining the group’s progress in expanding its digital portfolio.
In the current year, ProSiebenSat.1 has signed distribution agreements with Sky Deutschland and Deutsche Telekom with the aim of further increasing the reach of Joyn.
In the second quarter, Joyn reached 7.05 million monthly video users, an increase of around 2.5 million or 56% compared to the previous year’s quarter. The total viewing time on the streaming platform also increased by 38% year-on-year to a total of 9.8 billion minutes. At the same time, Joyn’s AVOD revenues increased by 25% in Germany alone.
“We are pleased with our business performance in the first two quarters of the year. Our strategy to focus on entertainment with increased content investments while continuing to implement operational cost efficiencies is starting to pay off,” said ProSiebenSat.1 CEO Bert Habets. “The dynamic growth of Joyn in particular shows that we are on the right track: We will establish Joyn as the leading super streamer that is free for everyone in the German-speaking region.”
“Furthermore, we are positioning Joyn as the perfect partner for advertisers and media agencies as we now offer combined TV and digital reach. At the same time, our distribution partnerships, which we recently concluded with Sky and Deutsche Telekom, and the launch of Joyn in Switzerland are important steps towards expanding our reach,” added Habets.
