ProSiebenSat.1 Media SE · XETR:PSM
ProSiebenSat.1 Media — Q3 2015 Earnings Presentation
81 slides from ProSiebenSat.1 Media's earnings presentation, Oct 29, 2015
Slide 1: Q3 2015 IR Presentation
October 29, 2015 Q3 2015 IR Presentation | October 29, 2015 | | Page 1
Slide 2: Agenda
Agenda 1 Q3 2015 – At a Glance 2 Q3/9M 2015 – Financial Performance Review Q3 2015 – Operational Performance 3.1 Broadcasting German-speaking 3 3.2 Digital & Adjacent 3.3 Content Production & Global Sales 4 Summary & Outlook | October 29, 2015 | | Page 2
Slide 3: Q3 2015 At a Glance
October 29, 2015 Q3 2015 At a Glance Thomas Ebeling Chief Executive Officer | October 29, 2015 | | Page 3
Slide 4: Key financials – Q3 2015
1 2 3 4 Q3 2015 – At a Glance Key financials – Q3 2015 [Q3 2015 vs. Q3 2014, in EURm] Revenues 747.1 +17.2% ✔ Recurring EBITDA 177.8 +9.1% ✔ Underlying net income 78.3 +4.8% ✔ | October 29, 2015 | Continuing operations | Page 4
Slide 5: Revenue growth
1 2 3 4 Q3 2015 – At a Glance Continued dynamic growth across all three business segments Broadcasting Content Production Digital & Adjacent German-speaking & Global Sales Ventures & Digital TV advertising Distribution Commerce Entertainment Adjacent Revenue growth vs. Q3 2014 +5.2% +7.5% +40.4% +26
Slide 6: Major operational highlights
1 2 3 4 Q3 2015 – At a Glance Major operational highlights Best 9M TV ratings performance in the last ten years ✔ ProSiebenSat.1 with positive TV ad performance in Q3 2015 ✔ Leading Nordic online travel agency Etraveli acquired ✔ Sports ecosystem initiated with 90MIN and Eversports ✔ Powerful US add
Slide 7: Degree of achievement of new 2018 targets
1 2 3 4 Q3 2015 – At a Glance Degree of achievement of new 2018 targets 2012-18 revenue growth target, degree of achievement Current CMD 2018 target [achievement based on 9M 2015, in EUR m] Achievement by 9M 2015 X% Target achievement in % 56% 33% 67% 42% 1,850 1,200 46% Linear extrapolation of new
Slide 8: We confirm our 2015 segment revenue growth assumptions…
1 2 3 4 Q3 2015 – At a Glance We confirm our 2015 segment revenue growth assumptions… Broadcasting Content Production 1 German-speaking 2 Digital & Adjacent 3 & Global Sales Revenues vs. Low to mid single- double-digit low double- FY 2014 digit growth growth digit growth | October 29, 2015 | Continu
Slide 9: … and raise our positive full-year guidance
1 2 3 4 Q3 2015 – At a Glance … and raise our positive full-year guidance Low double-digit Group revenue growth ✔ Ad performance at least in line with positive net TV ad market ✔ Digital & Adjacent with double-digit revenue growth ✔ Recurring EBITDA and underlying net income above prior year ✔ | Oct
Slide 10: Q3/9M 2015 Financial Performance Review
October 29, 2015 Q3/9M 2015 Financial Performance Review Dr. Gunnar Wiedenfels Chief Financial Officer | October 29, 2015 | | Page 10
Slide 11: Q3 2015: continued high single-digit recurring EBITDA increase
1 2 3 4 Q3/9M 2015 – Financial Performance Review Q3 2015: continued high single-digit recurring EBITDA increase Consolidated revenues Recurring EBITDA [in EUR m] [in EUR m] +17.2% 800 747.1 300 637.5 +9.1% 600 200 162.9 177.8 400 100 200 0 0 Q3 2014 Q3 2015 Q3 2014 Q3 2015 Recurring EBITDA margin:
Slide 12: 9M 2015: strong revenue and recurring EBITDA improvement
1 2 3 4 Q3/9M 2015 – Financial Performance Review 9M 2015: strong revenue and recurring EBITDA improvement Consolidated revenues Recurring EBITDA [in EUR m] [in EUR m] +13.8% +8.8% 2,500 800 2,174.2 1,909.7 2,000 600 522.2 568.1 1,500 400 1,000 200 500 0 0 9M 2014 9M 2015 9M 2014 9M 2015 Recurring E
Slide 13: Q3 2015: key revenue growth drivers of ProSiebenSat.1
1 2 3 4 Q3/9M 2015 – Financial Performance Review Q3 2015: key revenue growth drivers of ProSiebenSat.1 Key Group revenue growth drivers vs. PY [Q3 2015 external revenues, growth rates in %] Broadcasting German-speaking Digital & Adjacent Content Production & Global Sales EUR 465.1m, +6.3% EUR 207.9
Slide 14: 9M 2015: Group revenue growth driven by all key assets
1 2 3 4 Q3/9M 2015 – Financial Performance Review 9M 2015: Group revenue growth driven by all key assets Key Group revenue growth drivers vs. PY [9M 2015 external revenues, growth rates in %] Broadcasting German-speaking Digital & Adjacent Content Production & Global Sales EUR 1,470.5m, +5.2% EUR 52
Slide 15: Q3 2015: positive revaluation of financial assets supporting financial result
1 2 3 4 Q3/9M 2015 – Financial Performance Review Q3 2015: positive revaluation of financial assets supporting financial result but adjusted in underlying net income Financial result Underlying net income [in EUR m] [in EUR m] -93.7% +4.8% 25 100 74.7 78.3 75 0 -1.5 50 -25 -22.9 25 -50 0 Q3 2014 Q3
Slide 16: 9M 2015: improved operational and financial result drive underlying net income growth
1 2 3 4 Q3/9M 2015 – Financial Performance Review 9M 2015: improved operational and financial result drive double-digit underlying net income growth Financial result Underlying net income [in EUR m] [in EUR m] -52.8% +11.7% 50 300 266.4 238.5 0 200 -50 -49.7 100 -100 -105.3 -150 0 9M 2014 9M 2015 9M
Slide 17: Broadcasting German-speaking: mid-single digit segment revenue and recurring EBITDA growth
1 2 3 4 Q3/9M 2015 – Financial Performance Review Broadcasting German-speaking: mid-single digit segment revenue and recurring EBITDA growth External revenues and recurring EBITDA [in EUR m] Q3 Q3 9M 9M y-o-y y-o-y Comments 2015 2014 2015 2014 TV ad revenue growth driven Ext. revenues 465.1 437.6 +6
Slide 18: Digital & Adjacent: dynamic revenue and recurring EBITDA growth
1 2 3 4 Q3/9M 2015 – Financial Performance Review Digital & Adjacent: dynamic revenue and recurring EBITDA growth both in Q3 and first nine months External revenues and recurring EBITDA [in EURm] Q3 Q3 9M 9M y-o-y y-o-y Comments 2015 2014 2015 2014 Ext. revenues 207.9 158.7 +31.0% 529.6 413.9 +28.0%
Slide 19: Content Production & Global Sales: significantly improved profitability
1 2 3 4 Q3/9M 2015 – Financial Performance Review Content Production & Global Sales: significantly improved profitability in first nine months External revenues and recurring EBITDA [in EURm] Q3 Q3 9M 9M y-o-y y-o-y Comments 2015 2014 2015 2014 Dynamic revenue growth of subsidiaries in United States
Slide 20: Q3/9M 2015: Group P&L – improvement of all key metrics
1 2 3 4 Q3/9M 2015 – Financial Performance Review Q3/9M 2015: Group P&L – improvement of all key metrics [in EUR m] Q3 2015 Q3 2014 y-o-y 9M 2015 9M 2014 y-o-y Revenues 747.1 637.5 +17.2% 2,174.2 1,909.7 +13.8% Recurring EBITDA 177.8 162.9 +9.1% 568.1 522.2 +8.8% Non-recurring items -11.4 -6.0 +89.4
Slide 21: Stable financial leverage due to strong cash generation
1 2 3 4 Q3/9M 2015 – Financial Performance Review Stable financial leverage due to strong cash generation and recurring EBITDA increase in the past 12 months Net debt [in EURm] Net financial debt 2,500 2.2x 2.2x Net debt development 319 503 supported by strong 2,000 342 FCF generation before M&A of
Slide 22: Significant debt capacity secured at attractive terms
1 2 3 4 Q3/9M 2015 – Financial Performance Review Significant debt capacity secured at attractive terms to finance growth priorities within leverage target range Debt structure/maturities New EUR 700m term loan (bullet) closed in mid [in EUR m] October 2015 Term Overall term debt incl. existing note
Slide 23: Updated financial targets for 2015
1 2 3 4 Q3/9M 2015 – Financial Performance Review Updated financial targets for 2015 Group revenue growth low double-digit1) Recurring EBITDA above prior year Underlying net income above prior year Financial leverage 1.5x – 2.5x | October 29, 2015 | Continuing operations 1) previously “high single-d
Slide 24: Broadcasting German-speaking: TV Performance
October 29, 2015 Broadcasting German-speaking TV Performance Thomas Ebeling Chief Executive Officer | October 29, 2015 | | Page 24
Slide 25: Strong ratings growth across German-speaking markets
1 2 3 4 Broadcasting German-speaking / TV Performance Strong ratings growth across German-speaking markets Audience share (A14-49) [in %] Q3 2014 Q3 2015 Germany 29.3% 30.1% Austria 22.1% 23.5% Switzerland 17.7% 17.9% Basis for GER: All German TV households (Germany + EU), A 14-49 years; Mon-Sun, fu
Slide 26: Best 9 months ratings performance in the last ten years…
1 2 3 4 Broadcasting German-speaking / TV Performance Best 9 months ratings performance in the last ten years… Audience share (A14-49) [9M, in %] 29.5 28.6 28.6 28.6 28.3 28.4 27.9 27.9 27.7 27.6 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Basis: All German TV households (Germany + EU), A 14-4
Slide 27: …with increasing lead over key competitor…
1 2 3 4 Broadcasting German-speaking / TV Performance …with increasing lead over key competitor… Audience share Audience share Delta. [9M, in %] [9M, in %] [9M, in %] +1.9%pts 29.5 28.4 -1.9%pts Δ 5.0%pts 27.6 26.4 24.6 24.5 Δ 3.8 Δ 1.2 2013 2014 2015 2013 2014 2015 2013 2014 2015 vs. Basis: All Ger
Slide 28: …and continued strong growth of small channels
1 2 3 4 Broadcasting German-speaking / TV Performance …and continued strong growth of small channels Audience share (A14-49) [Q3 2015 vs. Q3 2014, in %] 1.6% 1.5% 1.2% +0.2%pts +0.8%pts +0.1%pts All figures: Q3 2015 vs. Q3 2014. Basis: All German TV households (Germany + EU), A 14-49 years; Mon-Sun,
Slide 29: New Swiss channel PULS 8 successfully launched
1 2 3 4 Broadcasting German-speaking / TV Performance New Swiss channel PULS 8 successfully launched Official launch on October 8, 2015 Complementing our existing channel portfolio with good ad market demand in key target group1) Leveraging Swiss rights for high quality US Great first week… license
Slide 30: New Disney volume deal fortifies access to top license supply…
1 2 3 4 Broadcasting German-speaking / TV Performance New Disney volume deal fortifies access to top license supply… Examples NEW Features Series (sitcoms) Multi-year volume deals with 6 out of 8 US major studios with key TV program secured well beyond 2019 | October 29, 2015 | | Page 30
Slide 31: …particularly strengthening prime time & female content line-up
1 2 3 4 Broadcasting German-speaking / TV Performance …particularly strengthening prime time & female content line-up Examples First Feature films Series programs available in 2016 Upcoming highlights (excerpt) Strengthen prime time Expand (female) series line-up Strategic rationale Efficient conten
Slide 32: 4 out of top 5 new US series on P7S1 channels soon
1 2 3 4 Broadcasting German-speaking / TV Performance 4 out of top 5 new US series on P7S1 channels soon Quantico Blindspot Rosewood Limitless Top 4 best performing new US series1) exclusively secured for P7S1 channels 1) Started in season 2015/2016 (as of October 20); performance = avg. ratings of
Slide 33: World class sports events on our channels & platforms
1 2 3 4 Broadcasting German-speaking / TV Performance World class sports events on our channels & platforms & SAT.1 O NFL final Boxing NFL season Wrestling Tennis UFC (new since Q3 2015!) up to up to up to up to up to 45.2% 16.3% 8.3% 4.3% 2.5% NEW Globally most- World class Live coverage of 23 live
Slide 34: Broadcasting German-speaking: Ad Market Performance
October 29, 2015 Broadcasting German-speaking Ad Market Performance Thomas Ebeling Chief Executive Officer | October 29, 2015 | | Page 34
Slide 35: Positive development 9M 2015
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Positive development 9M 2015 ✔ 9M German net TV ad market growth in line with full year expectation of 2-3% ✔ German-speaking TV advertising revenue growth of 3.9% y-o-y with Q3 accelerated growth of 5.2% y-o-y ✔ P7S1 gained advertising sh
Slide 36: Advertising share gains in all German-speaking markets
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Advertising share gains in all German-speaking markets ProSiebenSat.1 gross TV advertising market share [in %] Q3 2014 Q3 2015 Germany 43.8% 45.5% Austria 36.7% 37.5% Switzerland 24.4% 28.1% | October 29, 2015 | Q3: Jul-Sep | Source: Niels
Slide 37: TV continues to benefit at the expense of other media
1 2 3 4 Broadcasting German-speaking / Ad Market Performance TV continues to benefit at the expense of other media Gross ad spendings, Germany [Q3 2015 vs. Q3 2014; in % and %pts] Share of segment Change in media mix Total 100.0% TV 45.9% +1.9%pts Online 11.8% -0.2%pts Radio 6.0% +0.0%pts Newspaper
Slide 38: 9 out of 10 biggest industries increased TV budgets
1 2 3 4 Broadcasting German-speaking / Ad Market Performance 9 out of 10 biggest industries increased TV budgets Gross TV ad spendings of top 10 TV industries, Germany [Q3 2015 vs. Q3 2014; in EURm, % and %pts] in EURm in EURm Share Δ Δ TV in media mix Total 279 3.030 100.0% +10.1% +1.9%pts Food 23
Slide 39: Continued CPT increases
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Continued CPT increases Gross CPT growth [9M 2015 vs. 9M 2014; in %] 13.2 13.8 8.9 8.2 8.1 CPT = Cost Per Thousand. Adults 14-49, Mon-Sun, full day 3-3 h, 01.01.-30.09.2015 | October 29, 2015 | Base: all TV households in Germany (D+EU) / S
Slide 40: Strong net CPT development since 2009
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Strong net CPT development since 2009 Net CPT development [Index: 2007=100] 130 Market 120 110 100 90 80 2007 2008 2009 2010 2011 2012 2013 2014 2015E Basis: All TV-HH (D+EU), TA 1-30; SevenOne Media: SAT.1, ProSieben, kabel eins; IP: RTL,
Slide 41: Advertising share gain in Q3 2015
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Advertising share gain in Q3 2015 ProSiebenSat.1 estimated net TV ad share vs. IP Germany, 2014 [deviation 2015 vs. 2014] ∆ vs. PY Estimated Q4 Q1 2015 Q2 2015 Q3 2015 Q4 2015E TV ad share development [deviation vs. average share in 2014]
Slide 42: Innovation leader in Addressable TV
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Innovation leader in Addressable TV Spot overlay Switch-in | October 29, 2015 | | Page 42
Slide 43: Our products enrich TV with online functionality
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Our products enrich TV with online functionality SwitchIn (on program) Regio Insert (on Spot) Microsite offered to viewer when switching to P7S1 Automatic layover over national TV spot – for USE CASE channel (Microsite clickable by Red But
Slide 44: Switch-In product features – example of latest XXL format
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Switch-In product features – example of latest XXL format 996 x 560 px Viewable for about 10 sec. when switching to channel Within program (in-house productions) TV screen will be scaled > no TV overlay Fully animated (device-dependent) Cl
Slide 45: Regio inserts for regional TV spots within national campaigns
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Regio inserts for regional TV spots within national campaigns Regio Insert (on TV Spot) Microsite (regionalized) Positive Image-Shift through Addressable TV campaign High length of stay Ø 1:32 min on Regio-Microsite Microsite usage increas
Slide 46: Solid single-digit net TV ad market growth forecast
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Solid single-digit net TV ad market growth forecast German net TV ad market estimates 2015 +2.7% +3.4% +3.4% +2-3% P7S1 internal market estimate Source: Warc International Ad Forecast July 2015, ZenithOptimedia Advertising Expenditure Fore
Slide 47: Sales outlook 2015
1 2 3 4 Broadcasting German-speaking / Ad Market Performance Sales outlook 2015 1 German net TV advertising market growth of 2-3% 2 P7S1 to grow above market 3 Continued increase of TV share in media mix 4 Net CPTs to further increase due to increased value of reach | October 29, 2015 | | Page 47
Slide 48: Broadcasting German-speaking: Distribution
October 29, 2015 Broadcasting German-speaking Distribution Conrad Albert Chief Legal, Distribution & Regulatory Affairs Officer | October 29, 2015 | | Page 48
Slide 49: Continued growth of Q3 revenues and HD subscribers
1 2 3 4 Broadcasting German-speaking / Distribution Continued growth of Q3 revenues and HD subscribers +7.5% +18% EUR +0.9m +1.8m P7S1 distribution P7S1 HD revenue growth subscriber growth Note: HD Free-to-air subscribers shown; paying subscriber figures as reported by platform partners (EoP; subjec
Slide 50: Exclusive Maxdome hard-bundling expanded to telecolumbus
1 2 3 4 Broadcasting German-speaking / Distribution Exclusive Maxdome hard-bundling expanded to telecolumbus Key distribution deal signed with telecolumbus Exclusive full tariff integration of SVoD offering Available via new set-top-box and ~1.7m Launch online app Addressable Households1) 2016 | Oct
Slide 51: FTA catch-up and Pay TV on Zattoo increase mobile reach
1 2 3 4 Broadcasting German-speaking / Distribution FTA catch-up and Pay TV on Zattoo increase mobile reach Strong customer proposition – FTA linear complemented by catch-up for all Zattoo HiQ1) 0.7m Launch Pay TV channels first time monthly users2) 11/2015 accessible via mobile aggregator 1) EUR 1.
Slide 52: Digital & Adjacent
October 29, 2015 Digital & Adjacent Dr. Christian Wegner Chief Digital & Adjacent Officer | October 29, 2015 | | Page 52
Slide 53: We delivered double-digit growth in revenues and rec. EBITDA …
1 2 3 4 Digital & Adjacent We delivered double-digit growth in revenues and rec. EBITDA … Ext. revenues Rec. EBITDA [in EURm] [in EURm] +31% 207.9 +17% 200 40 37.7 32.2 150 158.7 30 ~18% EBITDA 100 20 margin1) 50 10 0 0 Q3 2014 Q3 2015 Q3 2014 Q3 2015 | October 29, 2015 | 1) Entity rec. EBITDA / Ext
Slide 54: … driven by strong performance of Commerce and Entertainment
1 2 3 4 Digital & Adjacent … driven by strong performance of Commerce and Entertainment Ventures & Digital Adjacent Commerce Entertainment EUR EUR EUR Revenues [Q3 2015] 125.2m 67.3m 15.4m Revenue growth [Q3 2015 vs. Q3 2014] +40% +26% -5% | October 29, 2015 | | Page 54
Slide 55: We have leading market positions across all our D&A pillars
1 2 3 4 Digital & Adjacent We have leading market positions across all our D&A pillars Market position A Ventures & Commerce B Digital Entertainment C Adjacent Travel New Music, Artist Mgmt., Ventures AdVoD PayVoD Games vertical verticals Live, Licensing Beauty & Accessories Top Top #1 #1 33) 34) #1
Slide 56: In Ventures & Commerce, we continue to develop our portfolio
1 2 3 4 Digital & Adjacent A In Ventures & Commerce, we continue to develop our portfolio Acquisition of Etraveli Strong operations in for our Travel vertical Beauty & Accessories Expansion in online Convergence of comparison video & commerce Switzerland | October 29, 2015 | | Page 56
Slide 57: In Travel, we acquired the leading Nordics online travel agency
1 2 3 4 Digital & Adjacent A In Travel, we acquired the leading Nordics online travel agency What Etraveli is 100%1) Etraveli is a leading online travel agency for flights in the Nordics with 12 brands in 40 countries Services include airline ticketing and hotel bookings 40 1.6m ~1bn ~70m trips EUR
Slide 58: Etraveli closes the blank spot 'flights' in our 7Travel value chain
1 2 3 4 Digital & Adjacent A Etraveli closes the blank spot ‘flights’ in our 7Travel value chain Why we acquired Customer journey Inspiration We complement our online travel vertical and close the blank spot In Destination “flight search” in our customer journey NEW Etraveli enables a profitable, lo
Slide 59: In Beauty & Accessories, our vertical approach drives operations
1 2 3 4 Digital & Adjacent A In Beauty & Accessories, our vertical approach drives operations Example +178% Lower cost and better Vertical Joint forces for growth More traffic at less cost revenue selection growth1) Q3 2015 vs. Q3 2014 Q3 2015 vs. Q3 2014 Sustainable business models led by strong te
Slide 60: We further developed our Online Comparison vertical
1 2 3 4 Digital & Adjacent A We further developed our Online Comparison vertical Online Comparison Portals New launches #1 NEW Online car tire price comparison portal #1 NEW Switzerland #1 Top NEW 5 Home entertainment offering by preis24.de | October 29, 2015 | | Page 60
Slide 61: We explore the convergence of commerce & video with 7NXT
1 2 3 4 Digital & Adjacent A We explore the convergence of commerce & video with 7NXT Our portfolio of online courses Example: Health & Wellbeing Commerce Video content: model: Online coaching Yoga, meditation, nutrition Bodyweight, cross-fit, HIT Subscription- courses based access Sales platform: E
Slide 62: In Digital Entertainment, we have seen great achievements
1 2 3 4 Digital & Adjacent B In Digital Entertainment, we have seen great achievements Market leading in New ad tech #1 MCN in Germany Premium Video profit center #1 #1 Building knowledge in Maxdome with strong video innovation growth in all dimensions | October 29, 2015 | | Page 62
Slide 63: We maintain the #1 position in a growth market …
1 2 3 4 Digital & Adjacent B We maintain the #1 position in a growth market … Solid Q3 growth in premium video ad market … … to be further boosted in the future Nielsen in-stream video ad market1) [in EURm, gross revenues] Ongoing increase of video ads on +34% smartphones and tablets ProSiebenSat.1
Slide 64: … while we are further growing our total video views
1 2 3 4 Digital & Adjacent B … while we are further growing our total video views P7S1 total video views Germany1) [in bn] +43% 4.1 +15bn Collective Digital Studio2) 2.9 Mandate Mandate Mandate 9M 2014 9M 2015 | October 29, 2015 | 1) Video Views of P7S1 AdVoD platforms and mandates; source: P7S1 tra
Slide 65: Studio71 maintained number one position in Germany
1 2 3 4 Digital & Adjacent B Studio 71 maintained number one position in Germany No.1 position in Germany … … with major global footprint ComScore MCN Ranking, Q3 2015 per month1) >2.5bn Monthly VV >300m Subscribers 1,300 Studio 71 Maker QuizGroup TubeOne Mediakraft Channels | October 29, 2015 | 1)
Slide 66: We push our ad tech solutions business as new profit center
1 2 3 4 Digital & Adjacent B We push our ad tech solutions business as new profit center Virtual Minds Smartstream.TV • Own comprehensive digital ad • Secure position in growing Why? tech stack for programmatic lower price video audience advertising segment • #1 German premium display • #1 German mu
Slide 67: We build up key knowledge in arising video innovation
1 2 3 4 Digital & Adjacent B We build up key knowledge in arising video innovation Minority Minority invest invest Video live streaming Virtual Reality Next generation video live streaming platform Production and distribution of cinematic targeting professional content creators virtual reality conte
Slide 68: maxdome has grown strongly in all dimensions
1 2 3 4 Digital & Adjacent B maxdome has grown strongly in all dimensions +95% +65% +35% SVoD Total Total subscribers1) video views2) user base3) | October 29, 2015 | 1) End of period Q3 2015 vs. PY. 2) Q3 2015 vs. PY. 3) Ø of period Q3 2015 vs. PY. | Page 68
Slide 69: maxdome secured landmark deals with traditional distributors
1 2 3 4 Digital & Adjacent B maxdome secured landmark deals with traditional distributors All-in-one Set-Top-Box solution All-in-one Set-Top-Box solution for linear TV & leading SVoD service for linear TV & leading SVoD service maxdome exclusive and maxdome exclusive and fully integrated SVoD servic
Slide 70: In our Adjacent business, we expand our digital & sports footprint
1 2 3 4 Digital & Adjacent C In our Adjacent business, we expand our digital & sports footprint Expanded digital footprint of New sports ecosystem Starwatch | October 29, 2015 | | Page 70
Slide 71: We expand the digital footprint of Starwatch with myticket.de
1 2 3 4 Digital & Adjacent C We expand the digital footprint of Starwatch with myticket.de 20% P7S1 stake What? Ticketing subsidiary of #2 live entertainment company in Germany Why? Extend digital footprint of Starwatch with focus on live entertainment in growing online ticketing market | October 29
Slide 72: We complement our sports ecosystem with digital platforms
1 2 3 4 Digital & Adjacent C We complement our sports ecosystem with digital platforms Sports management, Digital Video TV/Rights + events and ticketing + platforms/products We leverage synergies with our commerce assets around sports, e.g. Note: Sportdeutschland is a majority investment, Eversport
Slide 73: Digital & Adjacent – outlook
1 2 3 4 Digital & Adjacent Digital & Adjacent – outlook 1 Deliver double-digit revenue growth in FY 2015 2 Build new digital verticals 3 Further internationalize with innovative imports and exports | October 29, 2015 | | Page 73
Slide 74: Content Production & Global Sales
October 29, 2015 Content Production & Global Sales Thomas Ebeling Chief Executive Officer | October 29, 2015 | | Page 74
Slide 75: Continued growth in revenues and rec. EBITDA
1 2 3 4 Content Production & Global Sales Continued growth in revenues and rec. EBITDA Ext. revenues Rec. EBITDA [in EURm] [in EURm] +78% >+100% 174.1 10.1 97.8 1.0 9M 2014 9M 2015 9M 2014 9M 2015 | October 29, 2015 | | Page 75
Slide 76: New US digital hub to drive RA's global digital reach
1 2 3 4 Content Production & Global Sales New US digital hub to drive RA's global digital reach Run by leading industry executives Gayle Gilman and Jason Ziemianski, L.A. based digital content production hub Ripple Entertainment will: Create attractive digital content verticals within Red Arrow Bu
Slide 77: Recent investments in English-language IP
1 2 3 4 Content Production & Global Sales Recent investments in English-language IP New high- New scripted stakes genre comedy series drama for ABC starring real-life Australia and TV personality SundanceTV US Donny Deutsch Major new US producer weight loss Half Yard reality format leverage rights-
Slide 78: Q3 2015 Summary & Outlook
October 29, 2015 Q3 2015 Summary & Outlook Thomas Ebeling Chief Executive Officer | October 29, 2015 | | Page 78
Slide 79: We raise our positive full-year guidance
1 2 3 4 Summary & Outlook We raise our positive full-year guidance Low double-digit Group revenue growth ✔ Ad performance at least in line with positive net TV ad market ✔ Digital & Adjacent with double-digit revenue growth ✔ Recurring EBITDA and underlying net income above prior year ✔ | October 29
Slide 80: Disclaimer
Disclaimer This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media SE ("ProSiebenSat.1") or ProSiebenSat.1 Group, including opinions, estimates and projections regarding ProSiebenSat.1's or ProSiebenSat.1 Group's financial position, business strategy, plans and objecti
Slide 81: | October 29, 2015 | | Page 81
| October 29, 2015 | | Page 81