ProSiebenSat.1 revenue slipped 9% in the first half with the German broadcaster blaming disposals, a declining TV advertising market and the fact that its competitors had the rights to the soccer World Cup. It did, however, post an EBITDA profit in the period amid cost cuts and reorganization.
The Group revenue figure was €1.5BN ($1.73BN), down 9%. In the media giant's Entertainment segment, revenue was €952M, a 5.8% decrease.
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ProSiebenSat.1 said the reason for the ad revenues drop-off was both structural, as money moves away from traditional TV, and cyclical, as rivals aired the World Cup.
The company is refocusing on digital and highlighted the performance of its streaming service Joyn, with an uptick in both AVOD and SVOD revenue.
In terms of programming costs, ProSiebenSat.1 has changed the way it records content costs over time. Programming expenses for the first half of the year were €404M compared to €496M in the same period last year, partly owing to the adjustment in how programming assets are amortized. In the wake of job losses, the company added that personnel costs were significantly lower than in the previous year, decreasing by €117M to €299M.
Against that backdrop, the company swung from an EBITDA loss in the same period last year to an EBITDA profit of €124M in the first half of this year.
Marco Giordani, Group CEO of ProSiebenSat.1 said: "The first half of 2026 shows that we have consistently implemented our strategic priorities and significantly increased our profitability. In a challenging environment, we are determinedly driving forward the transformation of ProSiebenSat.1 Group – with a clear focus on entertainment, strict cost discipline, and targeted investments in our future."
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