| October 10, 2012
Page 1
Broadcasting
German-speaking
Thomas Ebeling, Conrad Albert
October 10, 2012
| October 10, 2012
Page 2
Agenda
Positive sales outlook
P7S1 with strong audience share position
Strong and steady growth from basic Pay TV and
HD distribution
Strong fundamentals of TV
1
2
3
4
| October 10, 2012
Page 3
More than 10m TV devices sold
Thereof large screens
(Revenue share of screens >42")
+7%
22%
Source: BITKOM 2012 Forecast, August 22, 2012; possible rounding differences ; Sales 42'' Screens gfu, GfK: Studie CE Markt 2011
Thereof 3.4m 3D TVs
+113%
Devices sold, growth rates y-o-y
[in percent]
| October 10, 2012
Page 4
Big screens driving TV consumption
67
58
48
40
46
53
59
40
0
20
40
60
Flat Screen
CRT Screen
2010
2011
TV technology in the living room
[in percent]
Effects of flat screen technology on TV consumption
[2011, in percent]
Source: TNS, ‘Kartographie der TV-Wohnzimmer’ 2010 and 2011
I'm enjoying my favorite programs
even more now
TV now is much more stirring
With the new screen, TV is
something far more special
I'm watching programs much more
concentrated
| October 10, 2012
Page 5
Smart TV usage with limited impact on linear Television
Share of TV households owning TV equipment
that can connect to the Internet
25%
2011
2012
2013
e
2014
2015
1%
Share of habitual users
84%
18%
e
e
e
| October 10, 2012
Page 6
Smart TV connection-rate and usage 2012
[in percent of HH]
Internet usage still low, reducing probability of
disruptive change
16.5
9.4
6.2
3.9
2.1
SmartTV in HH
Connected
to Internet
Already used
SmartTV-services
Usage at least
once per month
Usage at least
once per week
| October 10, 2012
Page 7
Audiovisual media continues to dominate media consumption
0
50
100
150
200
250
2002
2004
2006
2008
2010
2011
2012
Source: SevenOne Media, forsa, Enigma GfK, mindline Note: Online since 2008 without passive usage
Average daily usage in Germany
[in minutes, 14-49 years]
+1%
+12%
-3%
TV
Online
205 min.
92 min.
27 min.
CAGR
| October 10, 2012
Page 8
In the young target group TV is the lead medium with stable
consumption
Average daily usage in Germany
[in minutes, 14-29 years]
0
50
100
150
200
2002
2004
2006
2008
2010
2011
2012
TV
Online
147 min.
130 min.
22 min.
-5%
-1%
Source: SevenOne Media/mindline 2012; Online since 2008 without passive usage Online video usage: SevenOne Media/mindline 2011
thereof
approximately
22%
online video usage
+15%
CAGR
| October 10, 2012
Page 9
Parallel usage of TV and Internet clearly increases,
but parallel Internet activity topics set by TV
Basis: 3,085 cases (unweighted); 2,738 cases (weighted) Source: SevenOne Media/mindline
Total Basis (14-49 years): 657 cases (unweighted); 433 cases (weighted); parallel use at least infrequently content with TV reference: information on the current TV program; information on products in TV program
Information on products in TV advertising; Discussion of show in social communities; Source: SevenOne Media/mindline
19
30
59
2002
2007
2012
Parallel usage of TV and Internet
[in percent,
14-49 years]
3.1x
of parallel users use
online content
with TV reference
69%
| October 10, 2012
Page 10
Unrivaled daily reach
The power of TV
The power of ProSiebenSat.1
19m
viewers per day
14m
viewers per day
11m
viewers per day
49m
viewers per day
| October 10, 2012
Page 11
TV has strongest emotional power
Medium for strongest emotions
[in percent]
72
4
4
5
15
‘Which medium is most emotional, is most likely to make you cry or laugh?’ Basis: n=1,000 persons 14+; Source: forsa
Other
Internet
Radio
TV
| October 10, 2012
Page 12
TV is cost efficient compared to other media types
40
Magazines
10
Net CPT ranges
[in Euro]
50
Newspapers
15
25
Online
0.5
15
TV
5
| October 10, 2012
Page 13
TV generates high long-term ROIs
Based on 25 analyzed brands
1.9
Average
Long-term ROI
‘Long-term ROI’: ROI after 5 years, ROI = ratio of additional sales revenues / TV ad spend Source: GfK / SevenOne Media Based on a TV investment net / gross ratio of 43%
| October 10, 2012
Page 14
Advertising market – TV growing at the expense of Print
Net media mix Germany, 2000, 2011 and 2015
[in percent]
24%
26%
27-29%
66%
56%
51%
2000
2011
2015e
TV
39%
26%
5%
56%
Usage
Net Media
Mix Share
TV
Usage vs. net media mix Germany 2011
[in percent]
| October 10, 2012
Page 15
Positive sales outlook
Strong and steady growth from basic Pay TV and
HD distribution
1
3
Strong fundamentals of TV
4
Agenda
| October 10, 2012
Page 16
Despite fragmented German TV channel landscape,
only 6 channels in ‘Relevant Set’ – smaller stations gaining share
Adults 14-49 years ‘Relevant Set’: channels which draw at least 80% of TV usage time, basis: All TV households Germany [D+EU] Source: AGF/GfK Fernsehforschung / TV Scope, SPSS / GfK, ProSiebenSat.1 TV Deutschland GmbH / Audience Research [TH]
Since 2006 only
6
channels in
'Relevant Set'
(
80%
share of viewing)
82
TV broadcast stations receivable
Only
15
TV broadcast stations
in use (min. 10 minutes per month)
| October 10, 2012
Page 17
While average number of channels doubled, 'Relevant Set'
remained stable but fragmentation of market will continue
Adults 14-49 years 'Relevant Set': channels which draw at least 80% of TV usage time, basis: All TV households Germany [D+EU]
Source: AGF/GfK Fernsehforschung / TV Scope, SPSS / GfK, ProSiebenSat.1 TV Deutschland GmbH / Audience Research [TH], 2015 own estimate
Received, and in 'Relevant Set' broadcast stations
41
52
63
73
82
90
5
6
6
6
6
6
2004
2006
2008
2010
2012
2015e
Ø number of receivable channels
Ø number of Relevant Set channels
| October 10, 2012
Page 18
P7S1 channels with stable or positive rating development in
German-speaking countries
Switzerland
Austria
Germany
2010
2011
16.3%
28.5%
19.2%
16.1%
28.9%
20.1%
Basis for Germany: all German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h. Source: AGF/GfK Fernsehforschung/TV Scope/ProSiebenSat.1 TV Deutschland Audience Research. Switzerland: Swiss channels SAT.1, ProSieben, kabel eins; key demographic 15–49, since 2011 include solely the use of the Swiss signal/program window. Figures for A, CH are based on 24 hours in key demographics (Mon-Sun)
2009
16.3%
28.8%
17.3%
Audience shares
[in percent]
| October 10, 2012
Page 19
Our German stations have outperformed key competitor in
sports year
Audience shares
[in percent]
Basis: YTD = Jan-Sep, all German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h, RTL Group excl. RTL II with 6.3% YTD 2012 (Jan-Sep 2011: 5.5%); Source: AGF/GfK Fernsehforschung / TV Scope / ProSiebenSat.1 TV Deutschland Audience Research
-0.8%pts
-2.4%pts
27.7
28.5
29.8
27.4
| October 10, 2012
Page 20
Attractive content highlights secured for 2013/2014
Leading casting show
Top European football
Leading in sitcoms
Best in German fiction
•
Awarded with ‘Die
Goldene Kamera’
•
Second season starting
on October, 18 2012
•
21 world class football
games
•
Four German teams
qualified
•
Three new US sitcoms:
•
2 Broke Girls
•
Suburgatory
•
Mike & Molly
•
Four new German drama
series including:
•
Es kommt noch dicker
| October 10, 2012
Page 21
Female 30-44 years
Audience
share potential
0.5 - 2.0% per channel
Best Ager 49-64 years
High Income 45-59 years
Launched
Launch Q1 2013
Launch 2013/2014
We leverage our core assets through new channels and
line extensions − targeting attractive audiences
| October 10, 2012
Page 22
P7S1 channel positioning and growth opportunities:
SAT.1 and ProSieben line extensions strengthen station family
Source: AGF/GfK Fernsehforschung / TV Scope / Audience Research [BS] / ProSiebenSat.1
female
male
Target group structure
young
old
new channels
existing channels
| October 10, 2012
Page 23
Strong foundation of growth for existing TV channels
Recruited key
talent from
competition
Attractive studio
line-up
Holger Andersen
RTL II
Berlin-Tag & Nacht
Sascha Naujoks
RTL
Bauer sucht Frau
Klaus Henning
RTL
Program planning
Wolfgang Link
RTL
DSDS
New creative
process
established
•
Slot-based development priorities
•
Rigorous creative process management
•
Top rate improved from 23% (2010) to 41% (YTD 2012)
| October 10, 2012
Page 24
New line extensions
Institutionalize TV 3.0 initiatives
‘Ping Pong’ between TV and Online
More live formats (reality and ‘must see’)
Strong branding of channels/slots
Further drive efficiency
Further improve viewing experience
Increase distribution on all platforms
1
2
3
4
5
6
8
7
Our strong response to fragmentation challenges and to
non-linear viewing competition
| October 10, 2012
Page 25
Outlook remains positive – line extensions and sixx
as growth drivers
Share of viewing, 14-49 years
[in percent]
28.0
28.8
28.5
28.9
28.5 - 30.0
2008
2009
2010
2011
2012
2015
Sports year
Sports year
Estimate;
sports year
28.5 - 28.8
Estimate
Basis: all German TV households (Germany + EU), 14-49 years; Mon-Sun, 3-3h. Source: AGF/GfK Fernsehforschung/TV Scope/ProSiebenSat.1 TV Deutschland Audience Research
MAXX
| October 10, 2012
Page 26
Positive sales outlook
Strong and steady growth from basic Pay TV and
HD distribution
Strong fundamentals of TV
Agenda
1
2
3
4
| October 10, 2012
Page 27
ProSiebenSat.1 with leading position in the TV
advertising market
Note: TV-Split Nielsen H1 2012, Nielsen Media Research
42.5
35.3
Gross TV advertising market share
| October 10, 2012
Page 28
Focus on environmental
protection and
sustainability
For ‘men specialized
products’ such as cars,
technology products
For health products,
health food, sports goods
We are inventing new ad forms for a better ad impact:
Special thematic ad breaks
Green break
Beauty stars
Men's finest
Perfect balance
For customers from the
beauty, luxury, fashion or
| October 10, 2012
Page 29
Theme days with high audience and advertiser relevance
GreenSeven
Red Nose Day
Wedding Day
Tolerance Day
Documentaries, movies
and magazines raise the
awareness for
environmental topics
When kids suffer, it's up to
all of us to help - donations
go directly to youth
assistance projects
Stars brought together in a
TV and social media
campaign to encourage
mutual respect
sixx celebrates the first
wedding anniversary of
Prince William and Princess
Catherine with romantic
movies for the whole day
| October 10, 2012
Page 30
We are No.1 in product placement and branded entertainment
Through sponsoring, placement, TV spots,
online, and licensing, the Opel Corsa attracts
high attention and almost 100,000 new
potential buyers!
Fans of the TV show ‘Germany's next
Topmodel‘ become fans of the brand Opel
| October 10, 2012
Page 31
Market research firms expect continued growth in German
TV advertising
+1.2%
German net TV ad market estimates 2013
+2.2%
+1.9%
| October 10, 2012
Page 32
TV losing to Online
•
Real habitual smart TV usage probably low until 2015
•
TV remains lead medium for audio visual content
•
No successful Online without successful TV formats
•
TV offers superior value to advertisers
TV price decline/
increased fragmentation
•
Strong price recovery after Lehman crisis
•
Relevant and powerful reach continues to drive
price premium
Economic downturn
•
German-speaking territories still very attractive markets
Strong arguments against main market risks
vs.
vs.
vs.
[Details on following pages]
[Details next page]
| October 10, 2012
Page 33
Why we do believe that Online video growth has limitations
Real habitual smart TV usage probably low until 2015
•
Bandwidth/quality of service restrictions especially for live events
•
Consumers do not connect or do not use Internet
1
2
3
4
No successful Online without successful TV formats
•
Key traffic driver for Online are successful TV formats
•
Investments in TV content many times higher than in Online
•
Online has limited content inventory
TV offers superior value to advertisers
•
TV offers new interactive ad opportunities (HbbTV)
•
TV generates high long-term ROIs
•
Compared to Online TV is cost efficient
TV remains lead medium for audio visual content
•
TV has unparalleled trailer power (e.g. P7S1 EUR 400m gross media spend)
•
Demand for lean-back entertainment prevail
| October 10, 2012
Page 34
Encouraging economic indicators for German-speaking
countries
Unemployment rate and GDP growth
[in percent]
Source: GDP growth estimates: OECD Economic Outlook No 91, data extracted: September 25, 2012; unemployment rate estimates: Germany 2012: Deutsche Bundesbank, Austria 2012: OECD, Switzerland 2012: State Secretariat for Economic Affairs; unemployment rate estimates 2013: Bloomberg consensus/weighted average; unemployment rate estimates EU 15: OECD
2012e
2013e
Switzerland
2.9%
3.3%
Germany
6.8%
6.8%
Austria
4.3%
4.4%
EU 15
10.8%
11.1%
2012e
2013e
0.9%
1.9%
1.2%
2.0%
0.8%
1.6%
-0.1%
0.9%
Unemployment rate
GDP growth
| October 10, 2012
Page 35
Significant future growth potential of FTA private TV ad market
Print vs. TV fair share/media mix
Pricing opportunities
Ad intensity recovery
Expand target groups
New markets (e.g., lottery, betting)
Ban of public broadcaster sponsoring
Transaction models (e.g., HbbTV)
Regional advertising
1
2
3
4
5
6
8
7
Probabilized market potential 2015 vs. 2010
[in EURm]
Total probabilized market
potential ~EUR 350m
thereof P7S1 ~EUR 150m
45
10
25
80
25
20
45
100
2
0
1
1
12
2013
From
14
Source: P7S1 estimates| October 10, 2012
Page 36
1. Fair share vs. Print main growth driver for TV and Online
Media usage and net media mix 2011
[in percent]
1pp increase in media mix equals
~EUR 150m for the market
~EUR 138m for the private market
~EUR 60m for P7S1
39%
26%
5%
56%
18%
7%
Usage
Net Media Mix
Share
TV
Online
Source net media mix: ZAW data, excluding direct mail and directories, including display (banner and video), excluding Search and affiliate Source Usage: SevenOne Media,mindline / Basis 14-49 years: 6,432 cases (unweighted); 6,063 cases (weighted)
| October 10, 2012
Page 37
2000
2011
6.8%
0.8%
2009
56.2%
65.9%
58.9%
26.1%
24.4%
25.0%
5.5%
Development of net advertising share by media in Germany
[in percent]
1. TV and Online are the media mix winners
Based on ZAW data, excluding direct mail and directories, including display (banner and video), excluding Search and affiliate Source: ZAW; OVK; Screen Digest; McKinsey
TV
| October 10, 2012
Page 38
1. Due to stable economy and TV catch up in net media mix
German market to outperform other European markets
Source: ZenithOptimedia, Advertising Expenditure Forecasts, September 2012
2.2%
-2.8%
-8.0%
-1.0%
-2.6%
-16.0%
Y-o-y change TV ad spends 2012e vs. 2011
[in percent]
| October 10, 2012
Page 39
Net TV ad market, net CPT
[Index: 2009 = 100]
1Assumption: 50% of price increase leads to market growth, 50% to decrease in sold minutes. Basis: All TV-HH, A 14-49, CPT: 9-channel market Source: AGF/GfK Fernsehforschung,
DAP TV Scope, Zenith Optimedia
2. Strong recovery of net CPT drives market growth
0.15
Net TV ad market
0.15
Net CPT
n/a
100
109
110
112
2009
2010
2011
2012
1pp net CPT increase equals
~EUR 20m for the market
~EUR 18m for the private market
~EUR 8m for P7S1
1
100
103
111
| October 10, 2012
Page 40
Western Europe
3. Improvement of German TV ad intensity would offer
upside potential
Ad intensity: TV advertising market 2011
[as percent of GDP]
0.15
0.17
0.23
0.20
0.21
0.19
0.38
Source: Zenith Optimedia Advertising Expenditure Forecasts July 2011
2007
0.17
0.01% improvement in ad intensity
equals
~EUR 250m for the market
~EUR 230m for the private market
~EUR 100m for P7S1
Reaching European average
would mean EUR 1.0bn for the
TV ad market
| October 10, 2012
Page 41
3. Germany with a relatively small number of advertisers
Total TV advertisers 2011
Total = 1,621
Total = 1,707
Total = 3,612
Total = 2,247
Total = 3,286
| October 10, 2012
Page 42
4. We leverage our core assets through new channels and
line extensions – new sources of business
Print magazines
Print and public stations
Public stations and
male oriented channels
Launched
Launch Q1 2013
Launch 2013/2014
| October 10, 2012
Page 43
5. Strong potential for betting customers
13
22
27
2014e
65
43
53
2015e
80
2013e
40
27
2012e
25
17
8
Probabilized revenue potential private TV ad market
[in EURm]
New 'Gambling Treaty'
('Glücksspielstaatsvertrag') valid
since July 1, 2012.
Lottery/betting customers will be
allowed to advertise nationally after
getting the required
licenses/permissions
Lottery
Betting & poker schools
| October 10, 2012
Page 44
6. Significant upside potential through ad ban on public
stations
Ad ban on
public stations
Ban sponsoring on
public stations
~235 market
Source: P7S1 own estimate
*After 8pm and weekends/bank holidays (starting 2013)
~65 market
Potential customers currently limited
to public broadcaster advertising
Revenue potential
[in EURm]
P7S1
share
~12
~107
| October 10, 2012
Page 45
2012: Successful pilot projects with Kabel BW
and Unitymedia
Regulatory clearing for full roll-out in process
7. First successful step into regional TV ad market
Probabilized upside potential of
~EUR 50m for the market
~EUR 45m for the private market
~EUR 21m for P7S1
| October 10, 2012
Page 46
8. HbbTV – Interaction-based advertising models generate
additional revenues
Additional revenues from interaction-based advertising models (e.g., leads, coupons)
HbbTV combines the strengths of TV and Online in one device
Unrivaled daily reach of TV
Direct response channel
| October 10, 2012
Page 47
Backloading of key growth topics (e.g., regional advertising)
might lead to increased growth
Initiatives
2011
2012
2013
2014
2015
Print vs. TV fair share/media mix
Pricing opportunities
Ad intensity recovery
1
2
3
Transaction models (e.g., HbbTV)
New markets (e.g., lottery, betting)
5
Ban public sponsoring
6
8
Regional advertising
7
Testing phase
Expand target groups
| October 10, 2012
Page 48
Update 2012: Focus on private TV ad market and
consideration of probabilities leads to EUR 350m market potential
German private net TV ad market
[maximum potential, in EURm]
47
5,016
1,335
414
35
300
102
92
230
115
3,681
350
Expand
target groups
25
Ban public
sponsoring
80
45
Ad intensity
recovery
10
4,031
Net TV ad
market
potential 2015
Pricing
opportunities
45
25
100
Net TV ad
market 2010
New markets
(e.g. lottery,
betting)
20
German private net TV ad market
[
probabilized
potential, in EURm]
Media mix gain
(+3%pts;TV
fair share)*
Transaction
models (HbbTV,
Mobile)
Source: Net TV ad market 2010: ZAW; remaining figures P7S1 own estimates *Probabilized 0.8%pts TV share increase
CAGR
2010-2015
1.8%
Regional
advertising
3,681
3,681
3,681
| October 10, 2012
Page 49
SevenOne Media potential of EUR 150m by 2015
Source: P7S1 own estimates
P7S1 Germany
probabilized
potential
[in EURm]
8
25
1,600
P7S1
2015
1,600
P7S1
2015
150
Risk
online shift
35
Transaction
models
(Hbbtv,
Mobile)
175
Expand
target groups
Regional
advertising
21
Ban public
sponsoring
12
New markets
(e.g. lottery,
betting)
25
5
21
Media mix
gain
(+0.8%pts;
TV fair
share)
48
P7S1
2010
~ 1,600
Probabilized potential x P7S1 net TV SoA in private market
CAGR
2010-2015
1.8%
Pricing
opportunities
Ad intensity
recovery
| October 10, 2012
Page 50
Additional growth opportunities in Austria and Switzerland
Switzerland
Austria
•
Largest private FTA broadcaster in AT with increasing market share
•
Growth driven by PULS 4, supported by launch of UEFA Champions
League broadcast
•
Successful launch of sixx Austria
1Source: Swiss Federal Statistical Office
•
Swiss TV consumption below European average
(CH: 80 min vs. Europe: 116 min.)
| October 10, 2012
Page 51
Positive sales outlook
Strong and steady growth from basic Pay TV and
HD distribution
Strong fundamentals of TV
Agenda
1
2
3
4
| October 10, 2012
Page 52
HD roll-out and basic Pay channel launches as key
growth drivers
•
Focus of
'past' P&L
• Growth by
increasing
technical reach
and subscriber
base
F
ree
HD
SD
Pay
Key drivers HD uptake and basic Pay TV
Distribution: from net cost to net profit
CMD 2011 revenue target confirmed
with current trading above original estimates
• Growth by
increasing
technical reach
and subscriber
base
1
2
| October 10, 2012
Page 53
Successful roll-out of distribution strategy
Including
basic Pay TV
January 2012
November 2011
UPC Austria
March 2012
June 2012
UPC Switzerland
February 2012
addition of
September 2012
January 2011
April 2010
August 2011
October 2011
January 2010
July 2010
September 2011
December 2010
1 2
| October 10, 2012
Page 54
Strong growth of HD devices in Germany
21
33
48
59
2008
2009
2010
2011
Share of households owning an HD-capable TV in Germany
[in percent of total households]
39m HDTVs in German households at
the end of 2011
~9m
HDTV sales expected in 2012
HDTV becoming state of the art
Source: TNS CONVERGENCE MONITOR 2011; Der Markt für Consumer Electronics in Deutschland 2011 - Study by GFK and gfu
1
| October 10, 2012
Page 55
HD Free − current ProSiebenSat.1 subscriber performance
number of paying subscribers almost tripled YTD
HD Free paying subscribers in Germany
[in million households, average of month]
Cable
HD technical reach
IPTV
Satellite
0,5
0,5
0,7
0,8
0,7
1,0
1,3
1,6
2,0
2,9
3,7
4,5
5,0
0.1
0.1
0.1
1.6
1.3
0.7
2.5
2.1
+234%
Jun 12
Mar 12
Dec 11
Sep 12e
Dec 12e
Note: All figures are for paying subscribers, final DTAG subscriber figures not reported yet. Source: P7S1
1
Technical reach will more than double
in 2012
HD Free paying subscribers to reach
~50% penetration in 2012
| October 10, 2012
Page 56
HD Free − continuing strong demand for ProSiebenSat.1
HD channels on all platforms
2013e
0.5
4.2
2.5
1.2
0.1
2.5
5.0
2012e
0.8
1.5
2011
2.0
10.5
0.8
6.9
2015e
2.0
4.1
5.7
2014e
9.2
0.7
1.7
3.3
7.6
Cable
HD technical reach
IPTV
Satellite
0,74
HD Free paying subscribers in Germany
[in million households, average of December]
0.7
CAGR +41%
Note: All figures are for paying subscribers. Source: P7S1
1
Technical reach will double by 2015
in relation to end of 2012
HD Free paying subscribers to reach
~70% penetration in 2015
~7m subscribers at the end of 2015
Attractive deal terms mostly secured
beyond forecasting period
| October 10, 2012
Page 57
Basic Pay TV − current ProSiebenSat.1 subscriber
performance − strong growth in number of subscribers
Cable
IPTV
Satellite
Basic Pay TV subscribers in Germany
[in million households, average of month]
1.5
1.6
1.6
1.7
1.4
1.4
1.5
1.5
Jun 12
Mar 12
Dec 2011
Sep 12e
Dec 12e
3.3
2.9
2.8
3.6
3.5
~3.6m subscribers at the end of 2012
+28%
0.3
0.4
0.4
2
| October 10, 2012
Page 58
Basic Pay TV − ProSiebenSat.1 subscriber base expected
to grow by almost one million from 2012 until 2015
Cable
IPTV
Satellite
Basic Pay TV subscribers in Germany
[in million households, average of December]
0,4
0,4
0,4
0,5
1,7
1,7
1,8
1,9
1,5
1,7
1,8
1,9
2013e
2012e
2011
2014e
2015e
CAGR +7%
3.8
3.6
2.8
4.4
4.1
~4.4m subscribers at the end of 2015
2
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Page 59
Basic Pay TV − ProSiebenSat.1 already has three
successful channels in the basic Pay TV market
•
ProSieben's most successful TV
shows and comedy formats;
Blockbuster movies, U.S. series,
music, and action sports events
14 -39
14 - 49
•
Best-loved SAT.1 telenovelas,
prime time series and big SAT.1
movies
29 - 59
•
Top-notch TV entertainment, with
the best movies and TV series of
all times and genres
CAGR 2006-2012
+ 37%
- Launched in May 2012
- Technical reach 545k
CAGR 2006-2012
+ 37%
2
| October 10, 2012
Page 60
Distribution business to improve Group revenues
by more than EUR 50m by 2015
Source: P7S1 estimates for distribution in Germany
External revenues
[in EURm]
Distribution
2010
HD Free
Pay TV
SD Free
Distribution
2015e
∆
~EUR 50-60m
~33
•
Expected revenue improvement likely to exceed CMD target of EUR 50m
•
Expected recurring EBITDA improvement disproportionately high with ~EUR 70m
•
Distribution business to become profitable in Q4 2012
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Revenue growth target of EUR 250m for Broadcasting
German-speaking by 2015
+50
Growth target
2010-2015
+150
+50
Distribution
Source: P7S1 estimatesRevenue growth target
| October 10, 2012
Page 62
Disclaimer
This presentation contains "forward looking statements" regarding ProSiebenSat.1 Media AG ("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 objectives of management and future
operations. Such forward looking statements involve known and unknown risks, uncertainties and other important
factors that could cause the actual results, performance or achievements of ProSiebenSat.1 or ProSiebenSat.1
Group to be materially different from future results, performance or achievements expressed or implied by such
forward looking statements. These forward looking statements speak only as of the date of this presentation and
are based on numerous assumptions which may or may not prove to be correct.
No representation or warranty, expressed or implied, is made by ProSiebenSat.1 with respect to the fairness,
completeness, correctness, reasonableness or accuracy of any information and opinions contained herein. The
information in this presentation is subject to change without notice, it may be incomplete or condensed, and it
may not contain all material information concerning ProSiebenSat.1 or ProSiebenSat.1 Group. ProSiebenSat.1
undertakes no obligation to publicly update or revise any forward looking statements or other information stated
