PRESS RELEASE – Henning Rönneberg is departing from his role as CFO and COO of ParshipMeet Group on April 8th, after over 15 years, to pursue new endeavors, leaving on amicable terms. During his tenure, Rönneberg significantly contributed to the company's growth, international expansion, and successful acquisitions, transforming it into a leading online dating provider. David Lorbacher will assume CFO duties temporarily. ParshipMeet Group, boasting brands like Parship, ElitePartner, and LOVOO, generated €434M in revenue in 2023, with a team of 535 employees. The company is part of the ProSiebenSat.1 Group, which owns a 52% stake.
Category: ParshipMeet Group
ProSiebenSat.1 Ends 2023 With Strong Fourth Quarter and Expects Revenue Growth in 2024
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.
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.
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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!
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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.