ProSiebenSat 1 Media SE (OTCPK:PBSFF) Q3 2024 Earnings Conference Call November 14, 2024 4:00 AM ET
Company Participants
Dirk Voigtländer – Head of Investor Relations
Martin Mildner – Member of the Executive Board & CFO
Conference Call Participants
Julien Roch – Barclay
Conor O’Shea – Kepler Cheuvreux
Nizla Naizer – Deutsche Bank
Operator
Good morning, ladies and gentlemen, and welcome to our Q3 and 9 Months 2024 Conference Call of ProSiebenSat.1 Media SE. This conference is being recorded.
Today’s call is hosted by Mr. Dirk Voigtlander. Please go ahead, sir.
Dirk Voigtländer
Good morning, ladies and gentlemen, and welcome to ProSiebenSat.1’s Q3 2024 Results Conference Call, also from my side.
Today’s conference call will be hosted by Martin Mildner, CFO of ProSiebenSat1. As always, Martin will first take you through the group’s financial and operational performance of the first 9 months. He will conclude his presentation with comments on our outlook for the full year. The presentation will be followed by a Q&A session.
With these opening remarks, I now hand over to Martin.
Martin Mildner
Thank you, Dirk. Dear ladies and gentlemen, also from my side, a warm welcome to our Q3 analyst conference.
Before we go into detail, let me give you a quick overview of our financial performance. In the first 9 months, group revenues increased by 3% to EUR 2.656 billion. This reflects a solid performance in the Entertainment segment as well as the dynamic growth of our Commerce & Ventures segment. However, in light of the demanding economic environment, entertainment advertising revenues in the DACH region declined by 6% in the third quarter. On the other hand, Commerce & Ventures segment revenue grew by 19% in the first 9 months, therefore, compensating for the 13% revenue decline of the Dating & Video segment.
Our adjusted
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