ProSiebenSat.1 seeks closer broadcaster ties to counter US streaming giants
The logo of German media company ProSiebenSat.1 is seen in front of the headquarters in Unterfoehring near Munich, Germany, November 5, 2020. REUTERS/Andreas Gebert
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Aug 6 : German broadcaster ProSiebenSat.1 is seeking closer ties with domestic media groups to help defend the German media ecosystem against U.S. technology and streaming giants, Chief Executive Marco Giordani said on Thursday.
ProSiebenSat.1 said in July that it had partnered with public broadcaster ZDF to integrate its on-demand content into the group’s Joyn streaming platform, allowing viewers to access ZDF programmes without leaving the platform.
“We are working also on other partnerships,” Giordani said on a post-earnings call, adding that the group would like to see a collaboration with Germany’s public-service broadcaster ARD.
The company reported second-quarter core profit above expectations on Thursday as cost cuts offset a sharp decline in revenue.
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The strategy is in line with efforts by ProSiebenSat.1’s Italian owner MFE to build a pan-European media business to compete more effectively with international streaming and advertising groups.
The pan-European media group controlled by the Berlusconi family is developing a common streaming platform spanning six markets that Giordani said is scheduled to launch in the second quarter of 2027.
Broadcasters across Europe are pursuing partnerships and consolidation to build scale against global rivals. German competitor RTL completed its takeover of Sky Deutschland in July, combining streaming, sports and entertainment assets in a deal it said would strengthen its ability to compete with international platforms such as Netflix and Amazon Prime.
Source: Reuters
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