ProSiebenSat.1 to launch streaming app

German broadcast group ProSiebenSat.1 is set to launch a new app, called 7TV, that will air offer all ProSiebenSat.1 TV stations as a live stream and numerous TV shows on demand. 

Announcing the “comprehensive” service along with its first quarter results, ProSiebenSat.1 said that 7TV will launch in June and that it had already signed a distribution partnership with “an important mobile provider.”

The news came as ProSiebenSat.1 also said it had taken a minority stake in Los Angeles-based online platform that is designed to connect brands and creative content makers.

In its earnings, ProSiebenSat.1 said that its digital business continued to “develop dynamically.” Its 2013-founded multi-channel network (MCN) Studio71 saw its video views triple quarter-over-quarter to 330 million, establishing it as “one of the leading MCNs in German-speaking territories within half a year after its launch.”

Combined, ProSiebenSat.1 said that its digital entertainment offerings notched up 810 million video views in the quarter, establishing it as “Germany’s leading seller of video content in the internet.”

Overall in the quarter, ProSiebenSat.1 Group said it increased its revenues by 3.3% year-on-year to €581.1 million. Consolidated recurring EBITDA grew 9.5 % to €140.1 million, while underlying net income climbed by 9.4 % to €55.7 million.

“We had a good start to the year: All segments continued to grow in Q1 2014. In our core TV business, we not only further increased advertising revenues, but were also able to significantly improve distribution income,” said ProSiebenSat.1 Media CEO Thomas Ebeling.

“In the Digital business, our core areas continued to develop dynamically. In total, we are benefiting across all business segments from the continuing positive macro-economic climate. That makes us optimistic for full year.”