RTL Group reports strong 9-month growth on streaming boom

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RTL employees look from the TV's German headquarters in Cologne

BERLIN (Reuters) – European TV broadcaster RTL reported strong nine-month revenue growth on Thursday, citing continued recovery of TV advertising and growth in streaming businesses, adding it plans to expand its streaming services to music and e-magazines.

RTL said nine-month revenue rose 10.3% to 4.47 billion euros ($5.18 billion), compared with the growth of 2-3.5% it has reported for the period between January and September every year since 2015, as the number of its streaming services customers almost doubled.

In the first half of 2022, RTL will also expand its streaming service to include videos, music, podcasts, audio books and e-magazines, the company’s Chief Executive Thomas Rabe said in a statement.

($1 = 0.8635 euros)

(Reporting by Zuzanna Szymanska; Editing by Maria Sheahan)

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