Pan-European broadcaster, RTL Group, has reduced its losses from Â2.5 billion in 2001, to just Â56 million last year, according to the company’s year-end financial results released today.
In terms of advertising, the UK television market was weak in Q1 2003 and RTL is expecting a 2-3% growth for the full year. The German TV sector remains weak, with Merrill forecasting a 3-4% drop in ad revenues for FY 2003.
Overall revenues at the group were up 7.6% to Â4.4 billion, whilst earnings rose by 32.1% to Â477 million.
Outlook RTL says that advertising conditions remain tough, with low visibility, and so advertisers are looking to prime time leadership to deliver mass audiences.
“RTL Group continues to develop non-advertising related revenue streams and can already say, after the first two months of 2003, that it is having some worthwhile success. However, the economic and political environment adds to the uncertainty,” says the statement.