RTL revenues dip as Fremantle hit by US decline

Germany’s RTL Group has seen revenue slip in the first half of 2025, with a dip in US sales hitting production and distribution arm Fremantle.

The European operator saw improving returns from its streamer operations, which include RTL+ in Germany and M6+ in France, but total group revenue in the year to 30 June was down 3.2% to €2.87bn (£2.49bn).

Adjusted EBITA was down 7% to €160m, with TV advertising - falling almost 7% from €1.02bn from €1.09bn - and content revenues blamed.

Fremantle revenue dropped by 5.4% over the period to €905m, which RTL put down to a drop in US sales and the effects of America’s Got Talent spin-off, America’s Got Talent Fantasy League, this time last year.

Fremantle’s adjusted EBITA margin improved to 7.2% from 6.6% 12 months prior, but no other specifics were broken out.

RTL added that ventures such as its first-look deal with Emma Stone’s prodco Fruit Tree and the launch of creator arm Fremantle Global Originals would help the company towards its €3bn full-year revenue target.

The hitting of that target was pushed back into the “mid-term” in March following the industry-wide slowdown in commissioning.

Fremantle would “continue to invest significantly in IP development, acquisitions and deployment of artificial intelligence across [the] value chain,” RTL said.

Streaming surge

RTL’s streaming operations, including RTL+ in Germany and M6+ in France, both reported an improving picture, with streaming losses down almost 60% to €34m.

Streaming revenue rose 27% to hit €235m and subscribers were also up, surging 15% to €7.23 million, while ad revenue from streaming was up from €181m to €230m.

Germany’s RTL+ said it now has 6.36 million subscribers watching 346 million hours (an increase of 17.5%), which the company claimed makes it the most popular streamer in the country.

Numbers were also up in France, where RTL said M6+ now claimed 28 million average monthly users, 35% up on this time last year. Total viewing also rose by 17%.

The group pointed to shows such as its version of ITV Studios’ I’m A Celebrity (Ich Bin Ein Star – Holt Mich Hier Raus!) and Ex On the Beach as key performers.

RTL’s overall group profit was down to €59, from €173m a year earlier, while the company talked up the coming six months having recently confirmed the sale of RTL Nederland and the €150m acquisition of Sky Deutschland.

Thomas Rabe, chief exec, offered a buoyant forecast for the rest of the year, with revenue set to hit around €6.45bn and adjusted EBITA coming in at €780m. The company’s streaming operations are also expected to turn a profit in 2026.

“We are confident [that we will] significantly increase our operating profits in the coming years, driven by improved macroeconomic conditions in Germany, streaming profitability and synergies from the Sky Deutschland acquisition.”