ProSiebenSat.1 acquires 100% of the shares in streaming platform Joyn
13/09/2022
Joyn becomes the centerpiece of the digital entertainment presence
Expansion of Joyn into the largest freely accessible platform for premium video content in the German-speaking region
Strengthening the leading role in the growing market for AVOD
Despite negative adjusted EBITDA contributions from the first-time full consolidation in 2022 of around EUR 25 million from the Joyn acquisition, the Group expects adjusted net income in 2022 to be at the previous year's level and thus hardly changed compared to the previous expectation
The Company expects no negative impact on the dividend-relevant adjusted net income of the Group as early as 2023; significantly positive contributions to adjusted net income are expected already from 2024 onwards
In the years to come, the Group will also be able to use income tax loss carry-forwards at the level of Joyn GmbH amounting to well over EUR 400 million
Outlook adjusted in total due to first-time full consolidation of Joyn in the fourth quarter of 2022
Unterf hring, September 13, 2022. ProSiebenSat.1 Group is acquiring the outstanding 50% of the shares in Joyn from Warner Bros. Discovery. The joint venture was established with Discovery in 2017 and has been operating under the name Joyn since 2019. From day one, Joyn has focused on a strong, free and thus advertising-financed offering, as well as an exclusive subscription service. With over 30 million app downloads and 4 million unique users per month, the German streaming platform has firmly established itself on the market after three years. In the future, Joyn will be transferred to ProSiebenSat.1 Media SE's Entertainment segment as a wholly owned subsidiary. ProSiebenSat.1 is thus making the streaming platform an integral part of its value chain and placing Joyn at the center of its digital entertainment presence. In addition to content from ProSiebenSat.1 and other content partners, Joyn users will continue to have on-demand access to free, advertising-financed content from Warner Bros. Discovery. Users of the Joyn PLUS+ subscription offer can also obtain access to discovery+, which entitles them to use the streaming service for twelve months. Antitrust clearance is expected from October 1, 2022.
Rainer Beaujean, Group CEO of ProSiebenSat.1 Media SE: By acquiring all shares in Joyn, we are continuing the digital transformation of ProSiebenSat.1 Group. With Joyn having launched as a pure streaming platform three years ago, we are now making it the first point of contact in our digital ecosystem and thereby benefiting from synergies within the Group. In line with our strategy, we are extending our reach, especially among young target groups, and creating new opportunities for monetization. Full control over Joyn gives us the entrepreneurial flexibility we need.
In the future, we will place a sharper focus on interaction with and between users and community management, Rainer Beaujean continues. Therefore, we are integrating our streaming platform more closely with our influencer business and our brands from the Dating & Video and Commerce & Ventures segments. The Group's digital ecosystem also includes the single-sign-on registration service 7Pass with its more than 20 million registered users. Together with Joyn, it will enable us to address users even more targeted in the future.
Wolfgang Link, Member of the Executive Board of ProSiebenSat.1 Media SE (responsible for Entertainment): Together with Warner Bros. Discovery, we have developed Joyn into a successful and relevant player in the German streaming market, and are delighted that their content will remain available on Joyn. With the complete takeover, we are making Joyn the most important cornerstone of our digital content offering from now on - and we have big growth plans: We are further expanding our offering with local, relevant live content, thus successively increasing our marketable total reach and opening up additional monetization opportunities - because we want to make Joyn the largest freely accessible streaming platform for premium video content in the German-speaking region.
Wolfgang Link continues: We have many new program highlights in the pipeline: In addition to more and more previews from our group of stations, Joyn will expand its range of live events and Joyn Originals with the stars of the very young target group and attention-grabbing reality formats such as Love is King' and the impro series INTIMATE'. In doing so, Joyn will remain an aggregator platform in the live streaming segment, and we look forward to new content partnerships.
Ralf Peter Gierig, Member of the Executive Board & Group CFO of ProSiebenSat.1 Media SE: As a result of the complete takeover, Joyn will be fully consolidated in the fourth quarter of 2022. As expected, the Group will initially be impacted at the level of adjusted EBITDA. Nevertheless, the Group still expects this year's adjusted net income to be around the previous year's level.
Ralf Peter Gierig continues: The adjusted net income effects will already be balanced in 2023, and clearly positive contributions to the Group's adjusted net income will be generated from 2024 onwards. In the years to come, our Group will also be able to use income tax loss carry-forwards at the level of Joyn of well over EUR 400 million, which could not have been utilized by us in this amount in the previous joint venture. With regard to dividend, this is important news for all shareholders.
More efficient value creation from in-house programming: The full integration will enable ProSiebenSat.1 to create more efficient value for its in-house programming in the future and offer new opportunities for monetization. From now on, all in-house content can be used in a more flexible, user
LINK: | https://en.prosiebensat1.com/en/press/prosiebensat-1-acquires-100-of-t... |
See more stories from prosie |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
13/05/2024
CBS Sports to Use 5G-Connected Cameras to Cover PGA Championship
T-Mobile announced today that it is deploying its 5G Advanced Network Solutions (ANS) to enhance the fan experience as well as CBS Sports' live coverage of ...
13/05/2024
The Film and TV Charity launches fund for Black and Global Majority professionals
Funding will be awarded in three rounds over two years, with applications for th...
13/05/2024
IBC2024 opens for registration and announces new AI tech zone
This years show features an expanded venue including a new AI tech Zone and a second Content Everywhere area By Matthew Corrigan Published: May 13, 2024 T...
13/05/2024
David Loving Named KHOU-KTBU Houston General Manager
David Loving srtarts as president and general manager of KHOU-KTBU Houston May 20. He comes from WOI-KCWI Des Moines, where he was the general manager. Both duo...
13/05/2024
Rick Sallinger, KCNC Denver Reporter, Has Died
Rick Sallinger, KCNC Denver reporter, died of natural causes May 9 in the Denver area. He was 74....
13/05/2024
ABC Renews Idol,' Shark Tank,' Dancing With the Stars,' Others
In advance of its upfront presentation, ABC has renewed American Idol for season eight, The Bachelor for season 29, Celebrity Jeopardy! for season three, Celebr...
13/05/2024
Gordon Ramsay, Fox Launch Bite Food Entertainment Platform
Fox Entertainment and Gordon Ramsay said they have launched Bite, a food brand and entertainment business featuring digital content, live events and consumer pr...
13/05/2024
Doctor Who' Showrunner on What New Doctor Brings to Show
The 15th Doctor in Doctor Who history steps onstage with the show debuting on Disney Plus May 10. It is Ncuti Gatwa, who played Eric Effiong in Sex Education. H...
13/05/2024
Ballyduff Drama Group hailing from Co. Waterford Scoops Top Award in 2024 RT All Ireland Drama Festival
RT Marks 20 Years as Title Sponsor of the Festival with special anniversary vid...
13/05/2024
New landmark documentary series Stardust on RT One and RT Player
New compelling eye-witness testimony of Stardust fire in RT documentary Series filmed over three years includes interview with Charlie Bird filmed in 2021 N...
13/05/2024
Drug Discovery, STAT! NVIDIA, Recursion Speed Pharma R&D With AI Supercomputer
Described as the largest system in the pharmaceutical industry, BioHive-2 at the...
12/05/2024
Berklee Honors Ledisi, Q-Tip, and Gilberto Santa Rosa at Commencement
Berklee Honors Ledisi, Q-Tip, and Gilberto Santa Rosa at Commencement This years honorary doctorate recipients were recognized for their profound influence as...
12/05/2024
Smoke and Mirrors' fans stunned by Leeroy's funeral outfit
Smoke and Mirrors' fans stunned by Leeroy's funeral outfit Smoke and Mirrors' fans were surprised when Leeroy wore a wedding outfit' to his lat...
12/05/2024
Skeem Saam' fans criticise Sthoko and Babeile's abusive storyline
Skeem Saam' fans criticise Sthoko and Babeile's abusive storyline Skeem Saam' viewers are disappointed with Sthoko and Babeile's abusive storyli...
12/05/2024
Dial It In: Data Centers Need New Metric for Energy Efficiency
Data centers need an upgraded dashboard to guide their journey to greater energy efficiency, one that shows progress running real-world applications. The formu...
12/05/2024
Generating Science: NVIDIA AI Accelerates HPC Research
Generative AI is taking root at national and corporate labs, accelerating high-performance computing for business and science. Researchers at Sandia National L...
12/05/2024
NVIDIA Blackwell Platform Pushes the Boundaries of Scientific Computing
Quantum computing. Drug discovery. Fusion energy. Scientific computing and physics-based simulations are poised to make giant steps across domains that benefit ...
12/05/2024
Nqobile Sipamla portrays Masasa in Showmax's Empini'
Nqobile Sipamla portrays Masasa in Showmax's Empini'Talented actress Nqobile Sipamla discusses portraying an older woman, Masasa in Showmax's upcom...
11/05/2024
Survey: Fubo Boasts High Levels of Audience Attention
NEW YORK FuboTV has released a new study from TVision, which studies TV and CTV viewer engagement, that found ads on Fubo get higher viewer attention levels tha...
11/05/2024
The Weekly TV Tech Product News Roundup
Missed any of our product news this week? Here is our new weekly wrap-up with all the product news we published in our newsletter between May 6 and May 10. The ...
11/05/2024
Enghouse Completes Acquisition of SeaChange
MARKHAM, Ontario Enghouse Systems Limited has announced it has successfully completed its acquisition of substantially all of the assets of SeaChange Internatio...
11/05/2024
Unreal for video Rendering for After Effects
Unreal for video Rendering for After Effects Graham Quince May 10, 2024 0 Comments Welcome to my series on learning Unreal Engine for video producti...
11/05/2024
CEO David Zaslav On How Warner Bros. Discovery Is Using AI
Warner Bros. Discovery is using artificial intelligence to improve ad targeting and help viewers find content, but not to create programming, CEO David Zaslav s...
11/05/2024
Allen Media Group Reaches Expanded Carriage Deal With Hawaiian Telcom
Byron Allen's Allen Media Group said it reached an expanded carriage agreement with Hawaiian Telcom....
11/05/2024
Good Morning Football' To Air on Fox Television Stations
Good Morning Football, an NFL-focused panel talk show that has aired on NFL Network since 2016, is coming to broadcast syndication with the Fox Television Stati...
11/05/2024
Andrea Robinson Joins WCMH Columbus as Weekend Anchor
Andrea Robinson starts on the weekend newscasts at WCMH Columbus, Ohio, Saturday, May 11, anchoring alongside Matthew Herchik and meteorologist Bryan Still. NBC...
11/05/2024
Streaming? No Thanks, Says Nexstar CEO Perry Sook
Perry Sook, founder and CEO of broadcast giant Nexstar Media Group, isn't a fan of streaming....
11/05/2024
Law & Order: Organized Crime' Moves to Peacock
Law & Order: Organized Crime is moving from NBC to Peacock for season five. The Dick Wolf drama follows the detectives of the Organized Crime Control Bureau as ...
11/05/2024
Harry Pappas, Station Group Founder, Has Died
Harry Pappas, Pappas Telecasting Companies founder/president/CEO, died April 24 at age 78. He was surrounded by his family when he passed. He had battled illnes...
11/05/2024
KXAS Dallas-Fort Worth, WTVF Nashville Pick Up Peabody Awards
KXAS Dallas-Fort Worth and WTVF Nashville have won 2024 Peabody Awards. Given out by the University of Georgia's Grady College of Journalism and Mass Commun...
11/05/2024
AMC Networks Earnings Drop To $48.5 Million in Q1
AMC Networks reported that its first-quarter earnings fell by half, with advertising revenue dropping 13%....
11/05/2024
Mlungisi Ndebele says he's not like his jailbird role in Generations'
Mlungisi Ndebele says he's not like his jailbird role in Generations' Actor Mlungisi Ndebele opens up about his jailbird character, Bra Sol in SABC1...
10/05/2024
The Greatest Night in Pop Proves That We're Most Powerful as a Collective
Lionel Richie (Photo by George Pimentel/Shutterstock for Sundance)...
10/05/2024
Give Me the Backstory: Get to Know Arun Bhattarai and Dorottya Zurb, the Filmmakers Behind Agent of Happiness
By Lucy Spicer One of the most exciting things about the Sundance Film Festival...
10/05/2024
SBS announces Voyager lead singer Danny Estrin as Australia's spokesperson for the 2024 Eurovision Song Contest jury
SBS announces Voyager lead singer Danny Estrin as Australia's spokesperson f...
10/05/2024
UK Ministry of Defence Selects L3Harris T4 Robots to Assist with Explosive Ordnance Disposal Missions
The T4's best-in-class manipulator arm reach and lift strength, patented sta...
10/05/2024
A True Industry Partner for the Western Australian Police Force
L3Harris, together with partner Radlink Communications, is delivering communications terminals for the Western Australian Police Force (WA Police Force) leverag...
10/05/2024
Survey: TV Declines as Preferred Source of Local News
A major new survey and study of local news reveals a number of unsettling trends for broadcasters. Key findings from the Pew Research Center survey include a de...
10/05/2024
LOBO Launches Standalone Live-Action Division With Impressive Roster of Directors
LOBO Launches Standalone Live-Action Division With Impressive Roster of Director...
10/05/2024
Limecraft Announces New Platform Update and Preview of MI at MPTS 2024
Limecraft Announces New Platform Update and Preview of MI at MPTS 2024 Brie Clayton May 10, 2024 0 Comments Accompanying image shows the Limecraft Act...
10/05/2024
Berklee Announces 2024 Songs for Social Change Contest Winners
Berklee Announces 2024 Songs for Social Change Contest Winners Student songwriters shine in the annual contest that recognizes music with a socially conscious...
10/05/2024
Meet Graduates from Berklees Class of 2024
Meet Graduates from Berklees Class of 2024 Members of this years graduating class reflect on their proudest moments at Berklee and look ahead to whats next. ...
10/05/2024
Zille Media aims to enhance media accessibility with Audio Description Editor
The company has worked with Motion Picture Solutions (MPS) on the development of the solution, which sits in the cloud-native Zille Platform By Jenny Priestley...
10/05/2024
Meet the head of entertainment
From The Tube and Top of the Pops to head of entertainment at 1185 Films, Chris Cowey tells TVBEurope about his journey through the ranks during a time of chang...
10/05/2024
Dimension bolsters senior team with four new appointments
Dimension said its new hires signal its investment in creative new production techniques for feature films, episodic series, music videos and more By Matthew C...
10/05/2024
Allen Media Group, Hawaiian Telcom Sign Multi-Year Distribution Deal
LOS ANGELES Byron Allen's Allen Media Group (AMG) has announced a multi-year comprehensive portfolio agreement with Hawaiian Telcom for continued carriage o...
10/05/2024
LG Ad Solutions to Adopt Unified ID 2.0
MOUNTAIN VIEW, Calif. LG Ad Solutions has announced that it has started to integrate the Unified ID 2.0 solution (UID2) into its platform....
10/05/2024
CBS Sports Expands Streaming Coverage of National Women's Soccer League
CBS Sports has expanded its partnership with the National Women's Soccer League by adding multiplatform coverage of 22 additional regular season matches. Th...