On its financial results for the first quarter of 2026, RTL Group has revealed a key milestone in its digital transformation strategy: the streaming business has reached profitability for the first time. Between January and March, the group’s total revenue remained stable at €1,295 million, achieving an organic growth of 2.5% driven by the rise of on-demand content and the strong performance of its global production company, Fremantle.
The streaming segment experienced a 27.0% jump in revenue, reaching €141 million. This success is underpinned by an 18.8% year-on-year increase in the paying subscriber base, which now stands at 8.4 million consolidated users across platforms such as RTL+ (in Germany and Hungary) and M6+ (in France).
Clément Schwebig, CEO of RTL Group, highlighted this achievement: ‘The first three months of 2026 marked the first profitable quarter of our streaming business. With all streaming performance indicators growing – from revenue to paying subscribers and viewing time – we are confident that our streaming services will generate an operating profit of €25 million to €50 million for the full year’.
This performance was bolstered by key strategic partnerships closed early in the year, such as the integration of the HBO Max catalog in Germany and Austria through RTL+, the inclusion of M6+ on Amazon Prime Video for the French market, and distribution alliances with telecommunications platforms.
Transition in the advertising market
While the digital ecosystem advances steadily, linear television advertising continues to face the challenges of transitioning consumption habits. Traditional TV advertising revenue fell by 6.5%, reflecting the ongoing migration of audiences.
However, this contraction was mitigated by a robust 14.6% growth in the corporation’s digital advertising revenue, which totaled €118 million. Furthermore, despite the overall advertising decline, the group’s main broadcasting divisions—RTL Deutschland and Groupe M6—managed to increase their audience shares in key commercial demographic groups against their competitors.
On the corporate front, RTL Group confirmed it has received unconditional approval from the European Commission for the acquisition of Sky Deutschland (DACH). The transaction, previously agreed upon with Comcast, is expected to officially close on June 1, 2026.
This strategic operation will create an entertainment giant in the German-speaking region with approximately 12.3 million paying subscribers. With the incorporation of Sky, the group’s pro-forma annual revenue would scale over €8 billion, balancing and diversifying its business model for the future: approximately 40% of its revenue will come from advertising, 27% from subscriptions, and 24% from content.
Sustained outlook for 2026
Despite the volatility of the macroeconomic and geopolitical environment, RTL Group reaffirmed its full-year projections. Excluding the imminent consolidation of Sky Deutschland, the company expects to reach annual revenues between €6.1 billion and €6.2 billion, leveraged by an estimated 25% growth in streaming and 3% organic growth from Fremantle.
