RTL Group, the European media powerhouse, has made bold moves in the first half of 2025, signaling a determined push into streaming and content diversification—even as traditional revenue streams face mounting pressure. The company reported a 15.3% surge in streaming subscribers, reaching a robust 7.2 million, and a 27% increase in streaming revenue to €235 million. These figures, announced on August 8 and 9, 2025, underscore the group’s accelerating pivot from conventional TV advertising to digital platforms, a strategy that’s starting to bear fruit despite an overall decline in group revenue.
According to Broadband TV News, RTL’s streaming start-up losses have been slashed by more than half, falling to €34 million in the first half of 2025. This improvement is attributed to a growing base of paying subscribers, higher subscription prices in Germany, and a notable uptick in advertising revenue on both RTL+ in Germany and M6+ in France. The group’s streaming ambitions are further fueled by a recently renewed distribution partnership with Deutsche Telekom, now extended until at least 2030, and the high-profile acquisition of Sky Deutschland from Comcast, a deal announced in June 2025 and pending regulatory approval.
Yet, the company’s financials paint a complex picture. Group revenue dipped by 3.2% to €2.78 billion, down from €2.87 billion in the first half of 2024, as reported by C21 Media. The culprit? A downturn in TV advertising and content production revenue, only partially offset by gains in streaming. Adjusted EBITA also slid by 7.0% to €160 million. Fremantle, RTL’s global content arm, generated €905 million in revenue, down from €957 million a year earlier—a decline that was largely anticipated after the first half of 2024 benefited from a spin-off of America’s Got Talent. The company cited “phasing effects” and lower US revenue as contributing factors, though the March 2024 acquisition of Asacha Media Group helped cushion the blow.
Despite these headwinds, RTL’s leadership remains upbeat. CEO Thomas Rabe stated, “In the first half of 2025, we made key steps to accelerate the transformation of RTL Group. We grew our streaming revenue by almost 30%, renewed our successful distribution partnership with Deutsche Telekom until 2030 and announced the acquisition of Sky Deutschland.” He went on to highlight the group’s focus on its largest business units, noting, “Over the past five years, we have focused RTL Group’s portfolio on our biggest business units. We have generated proceeds from disposals of more than €2.7 billion with high cash returns to our shareholders.”
Indeed, RTL has been busy on the M&A front. The company closed the sale of RTL Nederland to DPG Media in July 2025 after a lengthy regulatory review, entering into a strategic partnership that grants RTL’s broadcasters in Germany, France, and Hungary first-look rights to new programs developed by RTL Nederland. Shareholders will see the benefits directly, with an expected dividend of €5 per share payable in 2026. This, along with over €2.7 billion generated from disposals in recent years, demonstrates a clear strategy of focusing resources and delivering value to investors.
RTL’s ambitions for its content business, Fremantle, remain undimmed despite recent revenue setbacks. The division is still targeting full-year revenue of €3 billion in the mid-term—a goal that was originally set for this year but pushed back due to what the company calls “increased headwinds” in the global TV sector. Fremantle is pursuing this target by acquiring small and medium-sized production companies, investing in intellectual property, and forming partnerships with creative talent. In 2025 alone, Fremantle struck deals with Emma Stone and Dave McCary’s Fruit Tree, partnered with Eureka Studios in Australia, and launched new ventures like Fremantle Sports, the AI-focused Imaginae Studios, and the unscripted originals hub Fremantle Global Originals. Notably, Simon Craig, a respected unscripted development executive and comedy writer, joined the newly launched label this year.
The group’s streaming platforms are also making waves with viewers. Top streaming shows for the first half of 2025 included Gute Zeiten, Schlechte Zeiten, the 18th season of I’m a Celebrity… Get Me Out of Here!, Alles was zählt, Are You The One?, Ex On The Beach, and the hit reality series Die Verräter – Vertraue Niemandem! (The Traitors). These successes have helped drive the rapid growth in subscribers and ad revenue, reinforcing RTL’s decision to double down on digital offerings.
But perhaps the most transformative move is the acquisition of Sky Deutschland, set to combine Sky’s premium sports rights—including Bundesliga, DFB Cup, Premier League, and Formula 1—with RTL’s entertainment and news brands across RTL+, free-to-air, and pay TV. Rabe described the deal as “transformational” for the group, with the expectation that, once approved by regulators, it will unlock significant synergies and new revenue streams. The initial price tag for the acquisition is US$175 million.
Looking ahead, RTL Group is targeting streaming profitability by 2026. The company’s roadmap hinges on three pillars: improved macroeconomic conditions in Germany, continued growth and profitability in streaming, and the successful integration of Sky Deutschland. As Rabe put it, “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, when approved by the regulators.”
While the company’s traditional revenue streams—especially TV advertising—remain under pressure, RTL is clearly betting on a future where streaming and digital content take center stage. The group’s willingness to invest, restructure, and focus on its strongest units suggests it’s not just reacting to industry trends but actively shaping its own destiny. Shareholders, for their part, are reaping the rewards of disposals and strategic pivots, even as the company navigates a challenging media landscape.
As the second half of 2025 unfolds, all eyes will be on RTL’s ability to realize the promised synergies from its recent acquisitions and to deliver on its ambitious profitability targets. If the first half is any indication, the group is prepared to make bold moves—no matter how turbulent the market may be.
