DPG Media achieves revenue growth and stable earnings in 2024
Today, DPG Media presents its annual figures for 2024, featuring the company’s first ever annual report on its journalistic activities. In 2024, DPG Media achieved a turnover of €1.73 billion. Revenue growth of 2.5% was offset by higher costs for salaries, distribution and digital development, leading to a stable operating result. As DPG Media’s CEO Erik Roddenhof explains, 2024 was another year of strong financial results. “All business units performed well, with outstanding results for our radio stations and online services in particular.”
Growth in total paid circulation for news media titles
Digital uptake and total paid circulation of news media showed a slight increase of 1%. Digital subscriptions rose by 12%. Among magazines, 2024 was a strong year for Donald Duck and Libelle. The company’s magazine titles succeed in bucking the trend and holding their own year after year. Total revenue from publishing activities grew by 1%.
Exceptional results for radio stations in Belgium & the Netherlands
The market share for radio stations in the Netherlands expanded by 12% to reach 28.7%. This growth was mainly driven by the strong performance of JOE. In Belgium, the radio stations’ market share rose to 41.7%. This increase in popularity with listeners prompted a 15% increase in ad revenue.
Transformation of television market continues apace
In 2024, user numbers for DPG Media’s streaming services grew by 8%. In linear television, VTM channels maintained a solid 36% market share. The widespread transformation of television viewing continued, with a decline in live viewing figures versus continued growth in the use of streaming services. Even so, revenue from video and television activities was up by 1%.
In the summer, DPG Media applied for a licence from the Dutch Authority for Consumers and Markets (ACM) to complete its proposed acquisition of RTL Netherlands, first announced in December 2023. The assessment of this application is pending and the ACM process has yet to be finalised.
Healthy upward trend for DPG Media’s Online Services continues
Digital marketplaces and comparison sites, which together make up DPG Media’s online services, expanded in terms of reach, usage and revenue. Independer, the automotive sites and the energy comparison sites had a particularly good year with solid growth in both Belgium and the Netherlands. Total revenue for Online Services rose by 6%.
Higher turnover plus higher costs produce stable result
Higher costs, including increases in the cost of wages (+5.7%), distribution (+13%) and digital development, neutralised the increase in turnover. The overall result was similar to the previous year: EBITDA totalled €348 million (-1%). The result from continued operations was €185 million (-3.6%).
At the end of November, DPG Media sold its Danish operations Berlingske Media to Norwegian media company Amedia. The added value from the sale and the group’s strong free cash flow position left the balance sheet virtually debt-free at the end of 2024.
Continued substantial investment in the digitalisation of our media brands
CEO Erik Roddenhof fills in the background: “2024 was a good year for DPG Media, but the world of media is changing fast, with no let-up in the surge towards digitalisation. We cannot afford to sit still. We are focusing our investments on growing the online reach of our brands, while continuing to nurture our analogue media. DPG Media will invest more than €400 million in its digital development over the next three years. By investing in our apps and sites, we aim to further enrich our range and constantly improve the user experience. In terms of digital storytelling, there is plenty of scope for progress. We will also continue to invest in our in-house advertising system Ad Manager and expand it with new video ad products. We are developing new AI-driven tools that support our employees in their day-to-day working activities.”
DPG Media introduces annual journalism impact report
DPG Media has invested in its ESG policy in recent years and offers an extensive account of these developments in its 2024 annual report. One aspect of this initiative is the addition of a new annual impact report on journalism to the standard annual report, starting this year. CEO Erik Roddenhof fills in the background: “More than ever, we believe in the importance of a free and independent press in a society flooded with fake news and disinformation. We recognise that it’s crucial to be as transparent as possible about how our editorial teams operate, how their independence is safeguarded and the impact that their work has. This signals the start of a new tradition, one that is both vital and essential.”
In this year’s annual report, DPG Media also gives an account of its carbon footprint for the first time and the steps being taken to reduce it. By making its fleet of vehicles more sustainable and its Amsterdam printing works gas-free, the company achieved a 12% drop in CO2 emissions (in scope 1 & 2) compared to last year.
Looking ahead to 2025
Christian Van Thillo, executive chairman of DPG Media, looks ahead to the coming year: “The world around us has changed dramatically in recent months and the markets in which we operate are continuing to transform at high speed. A reliable forecast for 2025 is therefore difficult to make. Uncertain economic and geopolitical developments, the growing power of big tech platforms, alarming developments in social media and the rise of AI all present us with major challenges, but we have a strong business and a clear strategy to adapt our media to the future demands of a digital world. On a daily basis, we reach millions of people with media that is made locally. That is our greatest strength and we are continuing to build on it. We have faith in our strategy, stay true to our course and continue to invest in the digitisation of our brands.”