RTL Group reported revenues of €6.0 billion ($6.55 billion) for 2025 as the European broadcaster and broadcaster continued its pivot towards subscription and digital businesses, reshaping its portfolio through a series of deals designed to expand the reach of its broadcasting operations.
The Luxembourg-based group is owned by German media giant Bertelsmann and the parent company of production powerhouse Fremantle, maker of global entertainment franchises including Factor X and Got talent – It recorded revenues of 6.018 billion euros ($6.55 billion) for the year, down 3.8 percent from 6.254 billion euros ($6.81 billion) in 2024 as traditional TV advertising declined. Adjusted EBITDA was 661 million euros ($720 million), broadly in line with the company’s guidance.
Live streaming has continued to be a major driver of growth. RTL said the number of live streaming subscribers rose 19 percent year-on-year to 8.1 million, while streaming revenue rose 26 percent to 509 million euros ($555 million). Losses from its streaming segment narrowed by 90 million euros to 47 million euros ($51 million), as the company said the business approached break-even in the fourth quarter.
“The market environment in 2025 remains challenging, with a significant decline in TV advertising and a faster shift from linear TV to streaming,” said company CEO Thomas Rapp, noting that RTL expects its streaming business to turn profitable later this year.
Last year, RTL agreed to acquire Sky Deutschland from Comcast in a deal worth €150 million ($164 million) in cash plus a potential variable component tied to the performance of RTL Group’s share price. The additional amount could reach 377 million euros ($411 million) if certain conditions are met.
Combining its existing live streaming platform RTL+ with Sky’s pay TV and streaming operations would create a service with around 12 million paid subscribers across Germany, Austria and Switzerland, positioning the combined company as a bigger competitor in the region’s live streaming market, RTL said. Regulatory approvals are pending, and closing is expected in the first half of 2026.
The group also moved to simplify its investment portfolio in 2025, completing the sale of RTL Nederland to Belgian media company DPG Media. The deal helped raise the group’s total profits to 1.028 billion euros ($1.12 billion), nearly doubling from 555 million euros ($605 million) the previous year.
The deal also includes a partnership with DPG Media covering technology services and advertising sales through RTL’s AdAlliance unit, along with first-look rights to new programs developed by RTL Nederland, RTL said.
Along with acquisitions and divestments, the company is expanding its partnerships with global technology and media platforms to enhance its live streaming offerings. In January, RTL Deutschland launched a bundled subscription combining its streaming service RTL+ and HBO Max in Germany, coinciding with the entry of Warner Bros. Discovery to the market. The package combines RTL+’s local programming with HBO Max’s international library at a discounted price compared to separate subscriptions.
RTL’s AdAlliance division also signed an agreement with Warner Bros. Discovery to handle ad sales for HBO Max in Germany, allowing advertisers to book campaigns for broadcast through RTL sales infrastructure. The company has forged more distribution partnerships with Deutsche Telekom and Amazon as it pushes broader aggregation and aggregation strategies for RTL+.
Despite the flow of gains, the group is still facing pressure in its traditional businesses. Total advertising revenue fell to €3.03 billion ($3.30 billion), with TV advertising down 7% to €2.19 billion ($2.39 billion), partially offset by a 27.7% rise in digital advertising revenue to €517 million ($564 million).
RTL said it expects adjusted EBITDA to rise to about 725 million euros ($791 million) in 2026, partly due to improved streaming profitability and expected synergies from the acquisition of Sky Deutschland.
Longer term, the company reiterated its goal of reaching €1 billion ($1.09 billion) in adjusted earnings before interest, taxes, depreciation and amortization (EBITA) as it continues to transform its business from linear broadcast to streaming and digital advertising.
