Fremantle revenue falls as it approaches high $3.3 billion turnover target

Revenues and profits decreased by approx Poor things super-independent label Fremantle last year as its lofty €3 billion ($3.2 billion) revenue target inches closer.

In a difficult market, Fremantle’s turnover fell slightly by 3.5% to €2.26 billion, while adjusted EBITA fell by an even greater 14.2% to €139 million.

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Fremantle’s €3 billion revenue target for 2025/26 has been widely publicised and the company now has just one year to achieve it.

Following today’s results announcement, Fremantle has spent more than €200 million ($216 million) on this goal. Death in Paradise Asacha Media Group and 80% of Singapore’s Beach House Pictures. This followed a quiet 2023 for acquisitions.

Fremantle owner RTL said today it still aims to hit its €3 billion target and will continue to invest in “entertainment, drama and film, and documentaries – both organically and through acquisitions”.

It added that Fremantle’s adjusted EBITA margin is expected to rise to 9% by 2026.

The super-indie had a strong year creatively, culminating in an Oscar ceremony produced by Element Pictures Poor things took home four gongs and other cited events including Showtime fellow travelers, revitalized Neighbors on Amazon Freevee and Disney+ Good Mothers, which won the Berlinale Series award.

Fremantle’s modest revenue decline and a weaker year in the advertising market resulted in a 5.4% decline in RTL revenues to €6.2 billion, while adjusted operating EBITA, similar to Fremantle’s, fell 15.2% to €782 million.

“Our strategic framework remains unchanged,” said RTL CEO Thomas Rabe. “They will continue to guide us in 2024: strengthening our core businesses, growing our streaming and content businesses, and building alliances and partnerships.”

He added that the Bertelsmann division “has demonstrated the resilience of our businesses in a particularly challenging environment during this period.”

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