Entertainment - Media News Watch originally published at Entertainment - Media News Watch

Source : Apple TV+

‘The Mosquito Coast’

Fremantle, a global producer and distributor, saw its revenues rise by 22% to EUR2.35bn by 2022 according to financial results released today by parent company RTL Group.

RTL stated that Fremantle is on track for reaching its target of becoming a EUR3bn business by 2025.

Fremantle closed eight production company transactions in the year. These included Lux Vide and Dancing Ledge, Element Pictures and Eureka. Wildstar Films, Silvio Productions, Wildstar Films, Wildstar Films, and Wildstar Films. It also delivered over 100 scripted productions including high-end-series, daily dramas and films in 2022.

Fremantle’s EBITDA stood at EUR162m in 2022.

According to RTL, Fremantle generated 35% of its total revenue in 2022 from drama and film productions. Fremantle shows include The Mosquito Coast for Apple TV+ through to America’s Got Talent.

RTL said that to reach the EUR3bn revenue target for Fremantle, it will invest significantly in the company, both organically and via acquisitions, in all territories across drama and film, entertainment and factual shows and documentaries.

Fremantle’s film business delivered 17 films in 2022, up from seven in 2021. The company has deals with Angelina Jolie and Edward Berger, the director of All Quiet On The Western Front.

RTL itself reported record revenues of EUR7.2bn for the 2022 financial year.

However, RTL’s adjusted EBITDA was down by 6% to EUR1.1bn. RTL claimed that this was due to RTL Nederland and Fremantle’s record adjusted EBITDA contributions. These effects were partly offset by record adjusted EBITDA contributions from RTL Nederland and Fremantle.

Streaming revenue from RTL+ in Germany and Hungary and Videoland in the Netherlands grew by 19.7% to EUR267m. The number of streaming subscribers grew by 44% to 5.5million.

TV advertising revenue was down 4.4% year on year, with RTL citing the difficult macroeconomic environment. Distribution revenue was stable at EUR438m.

Thomas Rabe, CEO of RTL Group, said: “RTL Group’s growth businesses streaming and content progressed significantly in 2022, with 5.5 million paying subscribers for RTL+ and Videoland, and over 100 drama productions from Fremantle. We are on track to achieve our ambitious streaming targets and Fremantle will be a EUR3bn-sized company by 2025.

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Entertainment - Media News Watch originally published at Entertainment - Media News Watch