Bertelsmann increases revenues despite TV advertising slump
Despite the weakening television advertising business, Bertelsmann has increased its revenues. Group revenues rose to 14.6 billion euros from January to September, and organic growth amounted to 0.8 percent, as the media, services and education company announced on Wednesday. In the same period last year, turnover amounted to 14.4 billion euros. Profit figures were not disclosed.
RTL Group, the largest division, has been struggling with the weakening television advertising business for some time, and revenues there have been declining. Other divisions of the Bertelsmann Group were apparently able to compensate for this in terms of total revenues. In particular, the publishing business around Penguin Random House, which published Prince Harry's book ("Reserve"), as well as the music division BMG, the services businesses of Arvato and the Bertelsmann Education Group contributed to growth.
Bertelsmann's education group saw significant contributions to its revenue growth, demonstrating the importance of their services in the company's diversified portfolio. Penguin Random House, a prominent publisher within Bertelsmann, played a crucial role in boosting revenues by publishing notable literature like Prince Harry's book "Spare." The revenues generated from the music division BMG, as well as the services businesses of Arvato and the Bertelsmann Education Group, also had a positive impact on Bertelsmann's overall revenue growth.
Source: www.dpa.com
