Fremantle’s revenue fell 5.4% in the first half of 2025 to €905 million ($1.053 billion), largely due to lower U.S. sales and phasing effects, as parent RTL Group accelerated its shift toward streaming and confirmed its acquisition of Sky Deutschland. The decline was partly linked to the first half of 2024 benefiting from a spin-off of “America’s Got Talent.”
On Friday, Luxembourg-based RTL Group reported group revenue of €2.781 billion ($3.236 billion) for the six months ended June 30, down 3.2% from €2.872 billion ($3.343 billion) a year earlier. Adjusted EBITA (Earnings Before Interest, Taxes, and Amortization) dropped 7% to €160 million ($186 million), with lower TV advertising revenue partly offset by sharply reduced streaming start-up losses, down 59.5% to €34 million ($39.6 million). Group profit fell to €59 million ($68.7 million) from €173 million ($201.7 million) a year earlier, mainly due to one-time effects and fewer positive fair value adjustments.
Fremantle’s adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin increased to 7.2% in H1/2025 from 6.6% a year earlier, even as revenue declined. Under its “boost plan,” the global production giant is targeting €3 billion ($3.493 billion) in annual revenue in the mid-term, supported by significant investment in IP development, acquisitions and the deployment of artificial intelligence across its value chain.
In March, Fremantle struck a first-look and development deal with Emma Stone and Dave McCary’s Fruit Tree, following a three-year agreement with newly established Eureka Studios to develop new IP for global sale and production. April saw the launch of Fremantle Sports, a global unit working across entertainment, drama and film, and documentaries to create cross-platform sports formats for worldwide distribution. That month also brought the launch of Imaginae Studios, a stand-alone label dedicated to leveraging AI solutions, technologies and tools for the creative community. In June, Fremantle unveiled Fremantle Global Originals, a new stand-alone creative hub focused on creating original unscripted formats.
RTL’s streaming revenue surged 27% to €235 million ($273.6 million) as paying subscribers rose 15.3% year-on-year to 7.23 million. RTL+ in Germany grew its subscriber base by 13.7% to 6.36 million, while viewing hours jumped 17.5% to 346 million, making it the leading German entertainment streaming service. Top titles included “Gute Zeiten, Schlechte Zeiten,” the 18th season of “Ich bin ein Star – Holt mich hier raus!,” “Alles was zählt,” “Are You The One?,” “Ex On The Beach” and “Die Verräter – Vertraue Niemandem!”
M6+ in France reported 28 million average monthly active users in H1/2025, up 35% year-on-year, with total viewing hours rising 17%.
The group renewed its distribution partnership with Deutsche Telekom until at least 2030 and, in June, announced a definitive agreement to acquire Sky Deutschland’s operations in Germany, Austria and Switzerland — including customer bases in Luxembourg, Liechtenstein and South Tyrol — for €150 million ($174.6 million) in cash plus a variable consideration tied to RTL’s share price. The deal, subject to regulatory approval, would combine Sky’s premium sports rights portfolio, including Bundesliga, DFB Cup, Premier League and Formula 1, with RTL’s entertainment and news brands.
RTL Deutschland continued to strengthen its sports offering, securing the DFB Cup highlight rights for men from the 2026/27 season and extensive rights to the 2025 European Basketball Championship, which will feature all German national team matches, select knockout games and the final live on free TV.
Other moves included the March sale of magazine titles “Brigitte,” “Gala” and “Eltern” to Funke Mediengruppe, and the July closing of the €1.1 billion ($1.280 billion) sale of RTL Nederland to DPG Media, with an expected €5 ($5.82) per share dividend to follow in 2026. Following the sale, RTL and DPG Media entered a strategic partnership covering technology services, international advertising sales and first-look rights for new RTL Nederland programs.
RTL Group also advanced its tech partnerships, joining a Bertelsmann–OpenAI collaboration in January that gives it early access to AI tools, and seeing RTL Hungary adopt Smartclip’s Smartx ad server and SSP in March. In July, RTL Zwei and Warner Bros. Discovery Germany received regulatory clearance for a joint TV and digital advertising sales house, expected to launch in 2026.
Net debt stood at €1.052 billion ($1.224 billion) at June 30, excluding lease liabilities, but the group received €1.1 billion ($1.280 billion) in July from the RTL Nederland sale.
RTL Group confirmed its 2025 outlook, forecasting revenue of about €6.45 billion ($7.509 billion) and Adjusted EBITA of around €780 million ($907.1 million), assuming TV ad sales grow 2-3% in the second half. Streaming profitability is targeted for 2026.
“Our shareholders will benefit from the sale [of RTL Nederland] via an expected dividend of €5 per share, payable in 2026,” CEO Thomas Rabe said. “We are confident to 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.”
variety.com
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