Revenues down, profit up at FremantleMedia

American GodsFremantleMedia has posted a full-year EBIDTA profit increase, but a slight decrease in revenues.

The RTL-owned producer and distributor has been acquiring content companies – and yesterday invested more cash into European MCN business Divimove – and produced more hours in 2016 than the previous year.

The producer and distributor’s 2016 prodco investments included buying into Israel’s Abot Hameiri, and UK-based Dr Pluto, Wild Blue Media, and Dancing Ledge. It also got series away including the upcoming Starz show American Gods (pictured).

The company said its output rose to 11,981 hours last year as its network of producers expanded, against 10,313 hours a year earlier. Within that total the number of new hours was fractionally down year-on-year.

Company revenue for 2016 was €1.5 billion (US$1.6 billion), a 1.6% decline year on year, while EBIDTA profit was up 3.2% at €3.2 billion across the same period.

FremantleMedia’s numbers were reported in the wider results of parent group RTL. The pan-European TV group said yesterday its co-CEO Anke Schäferkordt is stepping down to run the company’s German operation and will be replaced by RTL Nederland boss Bert Habets.

The German business remains RTL’s largest and recorded a 3.5% year-on-year increase in revenues of €2.2 billion and 3.1% uptick in profits of €705 million.

RTL Nederland, meanwhile, saw revenues edge down 1.5%, taking the total to €490 million and profit slide 15.8% to €85 million. RTL said the higher programming costs and start-up losses from SVOD platform Videoland were to blame.

RTL reported overall revenues of €6.2 billion, a 3.4% increase on 2015, and EBITDA of €1.4 billion, a year-on-year increase of 3.8%.