PROSIEBENSAT1 – ProSiebenSat.1 Group's dating business faced challenges in 2023, with a 16% revenue decline to 434M Eur. This was influenced by competitive market conditions and legal changes affecting subscription models. In 2022, the Fair Consumer Contracts Act came into force in Germany, which particularly affects the subscription on Parship and ElitePartner. Despite this, the company aims to strengthen profitability and reduce debt, focusing on investing more in local content. For 2024, they anticipate a slight revenue increase, with a stable EBITDA.
Category: ParshipMeet Group
ProSiebenSat.1 Q3 Financial Results
PROSIEBENSAT1 – The Q3 2023 results presentation by ProSiebenSat.1 outlines various operational updates, financials, and outlooks for the company. Key highlights included:
- The Group's Q3 revenue decreased 3% YOY to EUR 888M.
- Adjusted net income declined by 41% in Q3 YOY. The decline in the Group's Q3 revenue is attributed to several factors such as challenging macroeconomic environment and decrease in advertising revenue.
- In Q3 2023, the Dating & Video segment experienced a decline in both revenues and adjusted EBITDA. The Dating revenue was Eur 62M, down 12% YOY. As of Mar 2022, subscription businesses of Parship and ElitePartner had been affected by fair consumer contract regulations in Germany, negatively impacting the dating revenues since Q3 2022, with major effect from Q2 2023 onwards.
ProSiebenSat.1 Group Faces Revenue Decline in Dating & Video Segment Amid Regulatory and Competitive Challenges in 2023
PRESS RELEASE – ProSiebenSat1, the parent company of ParshipMeet Group, has released Q2 2023 financial results. The Dating & Video segment witnessed a decline in revenues to EUR 107M in Q2 2023, a drop of 18% from EUR 130M in the previous year, largely influenced by stricter consumer contract regulations in Germany, which particularly affected subscription models of Parship and ElitePartner. Adjusted EBITDA decreased 30% in Q2 and by 18% in H12023.
ProSiebenSat.1 Met 2022 Expectations and Expects Slight Revenue Growth in 2023
OPW – ProSiebenSat.1 reported that its financial year 2022 was in line with expectations, generating revenues of EUR 4.2B (compared to the previous year's EUR 4.5B), with adjusted EBITDA of EUR 678M (compared to the previous year's EUR 841M) and adjusted net income of EUR 301M (compared to the previous year's EUR 365M). In the Dating & Video segment, external revenues amounted to EUR 518M in 2022, representing a decrease of EUR 24M or 4% (previous year: EUR 542M). eharmony continued its growth course throughout the year and is now the highest-revenue brand in the dating portfolio.
See the top news on ParshipMeet Group
See the top news on eharmony
ProSiebenSat.1 to Cut Jobs, Seeks Buyer for Dating Business
REUTERS – ProSiebenSat.1, a German media group, is planning to reduce costs and cut jobs while focusing on its in-house streaming platform Joyn. The company's CEO, Bert Habets, also announced plans to divest its online dating service, ParshipMeet Group, once it finds a suitable buyer. Habets did not rule out an initial public offering but said it was unrealistic in the current market climate.
by Klaus Lauer
See full article at Reuters
ParshipMeet Group Implements New Leadership Structure
PARSHIPTMEET GROUP – ParshipMeet Group, a leading international provider in dating and video, has announced a reorganization of its businesses, focusing on a more integrated approach. The new structure will be led by a new CEO, Marc Schachtel, and CFO and COO, Henning Rönneberg. Geoff Cook, co-CEO of The Meet Group, has left the company on mutual terms to pursue new entrepreneurial ventures. As COO Video, Jim Bugden will continue to operationally oversee ParshipMeet Group's Video activities. Jim Bugden has been with the company for twelve years, most recently helping expand Livebox's third-party customer portfolio. The Livebox solution allows streamers to quickly and easily connect with their audiences and monetize their livestreams. The reorganization aims to set the company up for future growth, with its dating apps and live-streaming solution expected to contribute to ParshipMeet Group's future expansion. ParshipMeet Group will also streamline its organizational setup and implement cost efficiencies.
Geoff Cook Takes a Bow, Leaves The Meet Group
OPW – After an 18-year journey, Geoff Cook is bowing out of the CEO role of The Meet Group.
MeetMe grew from nothing to millions of active users. Tagged was acquired and turned into a livestreaming video success. Livebox, is a successful Creator Economy service powering top social apps. Tagged, LOVOO, Skout, and GROWLr were acquired. Parship Group and The Meet Group merged 2.5 years ago as ParshipMeet Group, and emerged as a dating and video leader.
See Geoff's post on Linkedin here
Mark Brooks: Our hats off to Geoff, a luminary in the dating industry, for his foresight, innovation, and leadership.
ParshipMeet Group Partners With WELCOMING OUT gUG
MARC SCHACHTEL (LINKEDIN) – I'm incredibly #proud that we at ParshipMeet Group have just kicked off our partnership with WELCOMING OUT gUG. Based in our hometown #Hamburg, #WelcomingOut is advocating #LGBTIQ+ rights in a very smart and effective way. The organization's Patrons: companies, associations, and councils, commit to fostering a climate that makes it easier for members of the LGBTIQ+ community to have their coming out – a step which for many people is still more complicated than one might think. #ParshipMeetGroup has a special responsibility in this area. The right to love is universal. Our collaboration is designed as a meaningful relationship where both parties grow together. Together, we want even more people to feel 100% comfortable about who they love!
See the top news on ParshipMeet Group
Mark Brooks: Love comes in all kinds. Our role is to promote it universally and comprehensively. Especially in understanding and supporting the more nuanced challenges our constituents face.
ProSieben Holding off on Dating Division IPO for Time Being
REUTERS – German broadcaster ProSiebenSat.1 Media is holding off on plans to list its dating division for the time being due to the current market environment and war in Ukraine. "We are totally prepared and I'm not ruling out anything for this year" when it comes to listing ParshipMeet Group, said CEO Rainer Beaujean. An IPO of ParshipMeet Group had been planned for the first half of 2022 and was intended as a way for U.S. co-owner General Atlantic to sell initial shares or step out entirely.
Q&A With Marc Schachtel, co-CEO of Parship Meet Group
HORIZONT.NET – With the takeover of The Meet Group by Parship, ProSiebenSat1 (P7S1) became one of the top online dating companies. In this interview, Marc Schachtel, Co-CEO of the Parship Meet Group, gives insights into growth plans and the relationship with P7S1.
Q: Mr. Schachtel, you have been leading the Parship Meet Group since July 2021 together with The Meet Group founder Geoff Cook. How does the cooperation work?
A: We complement each other. We have a clear division of tasks that works very well: Geoff takes care of the video-focused apps – MeetMe, Skout, Tagged and Growlr. I am responsible for Parship, Elite Partner, eharmony and Lovoo.
Q: You are currently preparing for an IPO. Apart from that, what have you achieved in the past six months?
A: We managed to successfully lead the company through the pandemic.
Q: What are you doing better than the Match Group?
A: There is a space for many players. Today there are ~800M singles in the world; by 2025 there will be nearly a billion. It is crucial how we influence the market. I see it as our task to bring the quality back into the business and to keep dating safe and healthy. The pandemic has changed everything. We rolled out a video date function on our Parship, Elite Partner and eharmony platforms right at the beginning of the pandemic.
Q: Will avatars meet on your platforms at some point?
A: I was asked about the possibilities of virtual reality when I came to Parship in 2011. I assume that the topic of dating will shift to a certain extent into the virtual world, but in the end relationships are something deeply interpersonal, where chemistry and physicality play a big role. At the same time, we see ourselves as players in the Metaverse with our video products. We always describe our video brands as a bar to go to to be entertained and have fun while looking for a partner. Our B2B product Video Platform as a Service enables our partners to quickly integrate live streaming technology into their platforms and monetize it. vPaaS is now used in ~15 apps, most of them outside of our company.
Q: How does the cooperation with Pro Sieben Sat 1 work?
A: It is a success story that has grown gradually over a decade. With our video business, we are now also part of the entertainment industry. I'm a very big fan of the content work that has been done at P7S1 lately. Our new dating show "Love at First Kick" will certainly not be the last one.