RTL Group's Streaming Turns Profitable as Sky Deutschland Merger Creates 12.4 Million-Subscriber Platform
RTL Group's streaming business has turned profitable for the first time, and the Luxembourg-based broadcaster is raising its full-year revenue forecast by roughly one billion euros after a strong first half of 2026.
Revenue rose 3.9% to €2.9 billion ($3.3 billion) in the six months through June, while adjusted EBITDA — a measure of operating profit before interest, taxes, depreciation and amortisation — jumped nearly 50% to €239 million ($275 million) Variety. The company now expects 2026 revenue of €7.1 to €7.2 billion ($8.20 billion–$8.32 billion), up sharply from the €6.1 to €6.2 billion it forecast in March.
The standout thread is streaming. RTL Group's streaming operations, which include RTL+ in Germany and M6+ in France, continued to grow dynamically and crossed into profit in the first quarter — a milestone the company had been working toward for several years Reuters. CEO Clément Schwebig, who took the top job in May 2026 succeeding Thomas Rabe, said streaming is now expected to contribute around €100 million ($115 million) to full-year operating profit Variety.
The biggest structural move closed on 11 August 2026: Sky Deutschland merged into RTL+, creating a single streaming platform with 12.4 million paid subscriptions across Germany, Austria and Switzerland. Schwebig called the deal "transformational" and positioned RTL as the clear number three in the German-speaking streaming market, behind Netflix and Amazon Prime Video Variety. RTL Group received final approval for the acquisition in April 2026 RTL Group.
Not every part of the business is growing. Traditional linear TV advertising revenue fell 4% in the first half, and Fremantle — RTL's production arm, responsible for shows like Baywatch and Kill Jackie — saw its revenues drop 7.7% year-on-year to $964 million (€835 million) Variety. Fremantle's Baywatch reboot will debut on Fox in the U.S. in January 2027, and its thriller Kill Jackie, starring Catherine Zeta-Jones, has been acquired by HBO Max across key European markets ahead of a autumn 2026 launch.
For viewers, the Sky Deutschland merger means that under one roof, a German-speaking subscriber could soon switch between live sports, original drama and reality formats without changing apps. Whether that bundling keeps churn down — churn being the percentage of subscribers who cancel each month — is the question RTL's next set of numbers will have to answer.
RTL Group also closed a share buyback programme on 6 August 2026 that had been running since 13 May RTL Group. The company operates 74 television channels, 40 radio stations and 7 streaming services across 26 countries, with 15,768 employees RTL Group.
