RTL Group reported €6.0 billion ($6.55 billion) in revenue for 2025 as the European broadcaster and streamer continued its pivot toward subscription and digital businesses, while reshaping its portfolio through a series of deals designed to scale its streaming operations.
The Luxembourg-based group — owned by German media giant Bertelsmann and the parent company of production powerhouse Fremantle, the maker of global entertainment franchises including The X Factor and Got Talent — posted revenue of €6.018 billion ($6.55 billion) for the year, down 3.8 percent from €6.254 billion ($6.81 billion) in 2024 as traditional TV advertising declined. Adjusted EBITA came in at €661 million ($720 million), broadly in line with company guidance.
Streaming continued to be the main growth driver. RTL said paying streaming subscribers rose 19 percent year-on-year to 8.1 million, while streaming revenue climbed 26 percent to €509 million ($555 million). Losses from the streaming segment narrowed by €90 million to €47 million ($51 million), with the company saying the business approached break-even in the fourth quarter.
“The market environment in 2025 remained challenging, with a significant decline of TV advertising and an even faster shift from linear TV to streaming,” said company CEO Thomas Rabe, noting that RTL expects its streaming business to cross into profitability later this year.
Last year, RTL agreed to acquire Sky Deutschland from Comcast in a deal valued at €150 million ($164 million) in cash plus a potential variable component linked to RTL Group’s share price performance. The additional consideration could reach as much as €377 million ($411 million) if certain conditions are met.
RTL said the combination of its existing streaming platform RTL+ with Sky’s pay-TV and streaming operations would create a service with around 12 million paying subscribers across Germany, Austria and Switzerland, positioning the combined company as a larger competitor in the region’s streaming market. Regulatory approvals are pending, with closing expected in the first half of 2026.
The group also moved to streamline its portfolio in 2025, completing the sale of RTL Nederland to Belgian media company DPG Media. The transaction helped drive total group profit to €1.028 billion ($1.12 billion), nearly doubling from €555 million ($605 million) the year before.
RTL said 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 for new programming developed by RTL Nederland.
Alongside acquisitions and divestments, the company has been expanding partnerships with global tech and media platforms to strengthen its streaming offering. In January, RTL Deutschland launched a bundled subscription combining its RTL+ streaming service with HBO Max in Germany, coinciding with the Warner Bros. Discovery platform’s entry into the market. The bundle pairs RTL+’s local programming with HBO Max’s international library at a discounted price compared to separate subscriptions.
RTL’s AdAlliance division has also signed an agreement with Warner Bros. Discovery to handle advertising sales for HBO Max in Germany, allowing advertisers to book campaigns for the streamer through RTL’s sales infrastructure. The company has struck further distribution partnerships with Deutsche Telekom and Amazon as it pushes wider aggregation and bundling strategies for RTL+.
Despite the streaming gains, the group continues to face pressure in its traditional business. Total advertising revenue slipped to €3.03 billion ($3.30 billion), with TV advertising falling 7 percent to €2.19 billion ($2.39 billion), partially offset by a 27.7 percent rise in digital advertising revenue to €517 million ($564 million).
RTL said it expects adjusted EBITA to rise to around €725 million ($791 million) in 2026, driven in part by improved streaming profitability and anticipated synergies from the Sky Deutschland acquisition.
Over the longer term, the company reaffirmed its target of reaching €1 billion ($1.09 billion) in adjusted EBITA as it continues shifting its business from linear broadcasting toward streaming and digital advertising.
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