Sony Pixel Power calrec Sony

ProSiebenSat.1 aligns organization with Group's growth strategy

18/07/2023

ProSiebenSat.1 aligns organization with Groups growth strategy

Unterf hring, July 18, 2023. ProSiebenSat.1 Group is taking the next step in its realignment: After the Group fully acquired the streaming platform Joyn as of October 31, 2022, putting it at the center of its entertainment activities, a realignment of the organization is now taking place, particularly in the Entertainment segment. The aim is to achieve a more efficient structure, a competitive cost base, and processes clearly geared to digital transformation. This is a priority in order to continue investing consistently in the future of the Group, especially in content and digital offerings.

Against this background, also a reduction in the number of jobs in the Group has become necessary: This will affect around 400 full-time positions. The job cuts will be made in a socially responsible manner through a voluntary redundancy program in order to avoid compulsory redundancies as far as possible. The Company had agreed on this in talks with employee representatives.

First effects of the reduced material and personnel costs across the Group will become visible in the fourth quarter of this year and are expected to amount to a low double-digit million EUR amount for 2023. ProSiebenSat.1 has already taken this into account in the financial outlook for full-year 2023. The full cost effect for 2024 will amount to a mid double-digit million EUR amount.

Bert Habets, Group CEO of ProSiebenSat.1 Media SE: In a constantly changing media industry, it is only logical that we have realigned our strategy and are constantly questioning our own positioning. In addition, we have to operate in an extremely challenging economic environment for the fourth year in a row. It is therefore imperative that we significantly reduce our material and personnel costs. The job cuts are a difficult but entrepreneurially necessary decision, so that ProSiebenSat.1 can increase its earning power and grow sustainably and healthily again.

2023 is the year of realignment for our Group, Bert Habets continues. We have a clear plan with a focus on our entertainment offering and especially on Joyn. This way, we want to become the number one in the German-speaking entertainment market as a Group. And we have now created an agile setup as well as headroom for investments again. This was absolutely essential as a basis for implementing our growth strategy.
LINK: https://en.prosiebensat1.com/en/press/prosiebensat-1-aligns-organizati...
See more stories from prosie

More from ProsiebenSat.1

19/12/2023

ProSiebenSat.1 increases investments in local content and at the same time expects stable earnings next year

ProSiebenSat.1 increases investments in local content and at the same time expec...

20/11/2023

SevenVentures invests in sustainable online food retailer Matsmart-Motatos

SevenVentures invests in sustainable online food retailer Matsmart-Motatos Unterf hring, November 20, 2023. SevenVentures, the investment arm of ProSiebenSat....

14/11/2023

ProSiebenSat.1 achieves adjusted EBITDA plus in the third quarter of 2023 despite difficult market environment

ProSiebenSat.1 achieves adjusted EBITDA plus in the third quarter of 2023 despit...

23/10/2023

SevenAccelerator invests in nucao

SevenAccelerator invests in nucao Unterf hring, 23.10.2023 - SevenAccelerator takes a stake in the nu company GmbH, the company behind the successful chocolat...

19/10/2023

Seven.One Entertainment Group restructures management and responsibilities for channels and platforms

Seven.One Entertainment Group restructures management and responsibilities for c...

19/10/2023

Katharina Frmsdorf becomes CEO of Joyn

Katharina Fr msdorf becomes CEO of Joyn Unterf hring, October 19, 2023. As part of the strategic realignment of the Seven.One Entertainment Group, the streami...

03/08/2023

ProSiebenSat.1 closes second quarter 2023 in line with expectations

ProSiebenSat.1 closes second quarter 2023 in line with expectations Group revenues as announced below previous year: Due to the continuing economic weakness i...

25/07/2023

Nach 25 Jahren bei ProSiebenSat.1: Thomas Wagner bergibt an Carsten Schwecke

Nach 25 Jahren bei ProSiebenSat.1: Thomas Wagner bergibt an Carsten Schwecke Unterf hring, July 25, 2023. Carsten Schwecke (47) will become Head of Sales at ...

18/07/2023

ProSiebenSat.1 aligns organization with Group's growth strategy

ProSiebenSat.1 aligns organization with Groups growth strategy Unterf hring, July 18, 2023. ProSiebenSat.1 Group is taking the next step in its realignment: A...

30/06/2023

ProSiebenSat.1 Annual General Meeting elects new Supervisory Board

ProSiebenSat.1 Annual General Meeting elects new Supervisory Board Annual General Meeting follows recommendation to elect Katharina Behrends, Dr. Katrin Burkh...

22/06/2023

SevenVentures invests in food tech company Next Gen Foods and its brand TiNDLE

SevenVentures invests in food tech company Next Gen Foods and its brand TiNDLE SevenVentures becomes strategic media partner of the food-tech start-up Next Ge...

16/06/2023

Change in the Supervisory Board of ProSiebenSat.1: Klara Brachtlova to succeed Erik Huggers

Change in the Supervisory Board of ProSiebenSat.1: Klara Brachtlova to succeed E...

12/06/2023

ProSiebenSat.1 reorganizes Executive Board / Wolfgang Link leaves the Company

ProSiebenSat.1 reorganizes Executive Board / Wolfgang Link leaves the Company Unterf hring, June 12, 2023. Wolfgang Link, former Chief Entertainment Officer a...

26/05/2023

ProSiebenSat.1 starts 2023 as expected and confirms full-year outlook

ProSiebenSat.1 starts 2023 as expected and confirms full-year outlook Group revenues in the first quarter as announced below previous year: Group revenues are...

24/05/2023

ProSiebenSat.1 invites to the Annual General Meeting of Shareholders on June 30, 2023

ProSiebenSat.1 invites to the Annual General Meeting of Shareholders on June 30,...

27/04/2023

ProSiebenSat.1 closes financial year 2022 in line with expectations and assumes slight organic revenue growth in 2023

ProSiebenSat.1 closes financial year 2022 in line with expectations and assumes ...

27/04/2023

Change on the Executive Board of ProSiebenSat.1 Media SE

Change on the Executive Board of ProSiebenSat.1 Media SE Unterf hring, April 27, 2023. The Supervisory Board of ProSiebenSat.1 Media SE today decided on a cha...

20/04/2023

SevenVentures invests in emerging food start-up KoRo

SevenVentures invests in emerging food start-up KoRo Unterf hring, April 20, 2023 - SevenVentures, the investment arm of ProSiebenSat.1 and part of the Groups...

28/03/2023

ProSiebenSat.1 strengthens focus on Entertainment business

ProSiebenSat.1 strengthens focus on Entertainment business Strengthening the leading position in the German-speaking entertainment market: ProSiebenSat.1 plac...

23/03/2023

ParshipMeet Group reorganizes businesses under new leadership structure

ParshipMeet Group reorganizes businesses under new leadership structure Integrated approach to set up the company for future growth New leadership structure:...

01/12/2022

ProSiebenSat.1 prepays promissory notes in the amount of EUR 275 million from available cash

ProSiebenSat.1 prepays promissory notes in the amount of EUR 275 million from av...

15/11/2022

ProSiebenSat.1 generates revenues of almost EUR 3 billion in the first nine months of 2022 despite market slowdown

ProSiebenSat.1 generates revenues of almost EUR 3 billion in the first nine mont...

09/11/2022

ProSiebenSat.1 establishes Seven.One Studios: New umbrella brand unites eight production subsidiaries and global program distribution arm

ProSiebenSat.1 establishes Seven.One Studios: New umbrella brand unites eight pr...

27/10/2022

ProSiebenSat.1 updates full-year outlook 2022 due to development of the macroeconomic environment

ProSiebenSat.1 updates full-year outlook 2022 due to development of the macroeco...

03/10/2022

Change in the chair of the Executive Board of ProSiebenSat.1

Change in the chair of the Executive Board of ProSiebenSat.1 Bert Habets to become new chairperson of the Executive Board (Group CEO) of ProSiebenSat.1 Media ...

15/09/2022

Redseven Entertainment wins German TV Award for "Don't Stop the Music"

Redseven Entertainment wins German TV Award for "Dont Stop the Music" Munich, September 15, 2022. Redseven Entertainment, a Red Arrow Studios company, was awa...

13/09/2022

ProSiebenSat.1 acquires 100% of the shares in streaming platform Joyn

ProSiebenSat.1 acquires 100% of the shares in streaming platform Joyn Joyn becomes the centerpiece of the digital entertainment presence Expansion of Joyn in...

01/08/2022

Seven.One Entertainment Group and RTL Deutschland plan technology joint venture

Seven.One Entertainment Group and RTL Deutschland plan technology joint venture Unterf hring, August 1st, 2022. Seven.One Entertainment Group and RTL Deutschl...

06/07/2022

ProSiebenSat.1 sells Red Arrow Studios' US production business to Peter Chernin's The North Road Company

ProSiebenSat.1 sells Red Arrow Studios' US production business to Peter Cher...

30/05/2022

ProSiebenSat.1 extends its Senior Facilities Agreement

ProSiebenSat.1 extends its Senior Facilities Agreement Unterf hring, May 30, 2022. ProSiebenSat.1 Group has extended the tenors for its term loan and revolvin...

12/05/2022

ProSiebenSat.1 confirms full-year outlook for 2022

ProSiebenSat.1 confirms full-year outlook for 2022 Results in the first quarter of 2022 in line with the Group's expectations: Synergistic business model ...

05/05/2022

ProSiebenSat.1 Annual General Meeting elects Supervisory Board members - Dr. Andreas Wiele new Chairman of the Supervisory Board

ProSiebenSat.1 Annual General Meeting elects Supervisory Board members - Dr. And...

07/04/2022

SevenVentures invests in Grover: Series C financing round makes German company a unicorn

SevenVentures invests in Grover: Series C financing round makes German company a...

28/03/2022

ProSiebenSat.1 invites to the virtual Annual General Meeting of shareholders on May 5, 2022

ProSiebenSat.1 invites to the virtual Annual General Meeting of shareholders on ...

03/03/2022

ProSiebenSat.1 closes 2021 with revenue growth of 11%; adjusted EBITDA increases by a considerable 19%

ProSiebenSat.1 closes 2021 with revenue growth of 11%; adjusted EBITDA increases...

23/12/2021

Court decision paves way for regional advertising on national TV channels

Court decision paves way for regional advertising on national TV channels Unterf hring, December 23, 2021. Today, the Stuttgart Regional Court implemented a r...

06/12/2021

Dr. Andreas Wiele to become Chairman of the Supervisory Board

Dr. Andreas Wiele to become Chairman of the Supervisory Board Chairman of the Supervisory Board Dr. Werner Brandt will not stand for re-election after two ele...

06/12/2021

Ad-Hoc-Disclosure according to Article 17 MAR (EU) Nr 596/2014: Dr. Andreas Wiele to become Chairman of the Supervisory Board

Ad-Hoc-Disclosure according to Article 17 MAR (EU) Nr 596/2014: Dr. Andreas Wiel...

24/11/2021

Redseven Entertainment's first original drama, "Friedmanns Vier", airs on RTL+

Redseven Entertainment's first original drama, "Friedmanns Vier", airs on RT...

16/11/2021

Red Arrow Studios sells US film distribution house Gravitas Ventures to Anthem Sports & Entertainment, Inc.

Red Arrow Studios sells US film distribution house Gravitas Ventures to Anthem S...

04/11/2021

ProSiebenSat.1 again raises full-year outlook 2021 after strong third quarter

ProSiebenSat.1 again raises full-year outlook 2021 after strong third quarter Revenues grow strongly by 15% to EUR 1,055 million in the third quarter of 2021,...

03/11/2021

MEDIA ACTIVITY GUIDE 2021: MEDIA CONSUMPTION REACHES NEW HIGH FOR THE SECOND YEAR IN A ROW

MEDIA ACTIVITY GUIDE 2021: MEDIA CONSUMPTION REACHES NEW HIGH FOR THE SECOND YEA...

08/10/2021

ProSiebenSat.1 uses proceeds of new EUR 700 million Schuldscheindarlehen for a EUR 900 million prepayment of Term Loans

ProSiebenSat.1 uses proceeds of new EUR 700 million Schuldscheindarlehen for a E...

07/10/2021

Redseven Entertainment expands production expertise: Jan Rasmus heads new Journalism, Documentary & Reportage unit

Redseven Entertainment expands production expertise: Jan Rasmus heads new Journa...

01/10/2021

NuCom Group sells Amorelie to EQOM Group

NuCom Group sells Amorelie to EQOM Group Unterf hring, October 1, 2021. The ProSiebenSat.1 subsidiary NuCom Group, in which General Atlantic holds a 28.4% sta...

05/08/2021

ProSiebenSat.1 posts record revenues in Q2 2021, adjusted EBITDA increases more than sevenfold

ProSiebenSat.1 posts record revenues in Q2 2021, adjusted EBITDA increases more ...

19/07/2021

ProSiebenSat.1 Group increases full-year outlook based on strong revenue and adjusted EBITDA growth in the second quarter of 2021

ProSiebenSat.1 Group increases full-year outlook based on strong revenue and adj...