Although RTL’s programs were viewed well in the past six months, the company has made a lot less of the least. Advertising revenues have fallen sharply due to the corona crisis, as a result of which the company has lost almost 90 percent in profit, RTL reports Thursday.
In the first half of 2020, the Dutch television advertising market shrank by 26.2 percent. This led to RTL Nederland’s turnover falling by just under 12 percent and profit by almost 90 percent. The profit fell from 18 million euros to 2 million euros.
“The impact of COVID-19 on the advertising market is huge,” says CEO Sven Sauvé of RTL Nederland. “Fortunately, we were able to fall back on the solid foundations of our strategy. By acting quickly and taking a critical look at our costs, we were able to achieve a positive result despite the significant drop in advertising income.”
It is also striking that the number of subscribers to streaming service Videoland grew faster than ever. Compared to June 2019, there are now more than 40 percent more paying subscribers. The subscribers together watched more than 30 percent more films and series than a year earlier. According to RTL, this is mainly due to the popular series Mocro Mafia and the reality series Temptation Island.