VAUNET expects audio and AV revenue in Germany to hit €16bn in 2024

VAUNET expects revenue from audio and audiovisual media to reach €16 billion in Germany in 2024

• Audio and video streaming services are the key drivers of growth
• Broadcasting reform, a level playing field, and the avoidance of additional regulatory burdens are crucial for future market development

BERLIN — According to VAUNET’s annual autumn forecast, the total revenue from audio and audiovisual media in Germany in 2024 is projected to rise by 4.3%, totalling €16.0 billion (2023: €15.3 billion). This growth is primarily driven by subscriptions and advertising revenues in the audio and video streaming segments. At least single-digit percentage growth is forecast for revenues from radio advertising and teleshopping, while television subscription and advertising revenues are expected to remain around the previous year’s level. These are the key findings of the 2023 revenue statistics and 2024 projections for the audio and audiovisual media market in Germany presented today in Berlin by VAUNET (German Media Association).

Development of audiovisual media in Germany; in bn euros; 2019-2024 (forecast) © VAUNET

Frank Giersberg, Managing Director of VAUNET, said: “We are content with the positive development of the market as a whole, something which can’t be taken for granted given the challenging political and economic conditions. Despite some uncertainties, we anticipate that demand for high-quality audio and audiovisual media will continue to rise, along with sustained growth. However, unequal competitive conditions are increasingly becoming a limiting factor for commercial media companies in Germany.”

Claus Grewenig, Chairman of the Board at VAUNET and Chief Corporate Affairs Officer RTL Deutschland, commented: “The market is growing, with an increasing number of providers and offerings. Although this differentiation is sharpening competition within the industry, above all it is intensifying pressure in the competition with the unequally regulated global big tech players and a public broadcasting system receiving more than €9 billion annually from licence fees. It is up to policymakers not to stifle our market with additional external burdens, but to set the right course this autumn with the effective enforcement of the European platform rules of the DSA and DMA, as well as by reforming the Interstate Media Treaty governing the public-service broadcasters ARD and ZDF.”

Cumulative advertising revenue in 2024

VAUNET’s projections indicate that Germany’s audio and audiovisual advertising revenues will total €6.2 billion in 2024, an increase of approximately 4.6% (2023: €5.9 billion).

Advertising revenue of radio and audio streaming in 2024

Audio net advertising revenues in Germany; in bn euros; 2019-2024 (forecast) © VAUNET

For 2024 as a whole, VAUNET forecasts a 3.1% increase in net revenue for the audio advertising segment to around €831 million (2023: €806 million). Radio advertising looks set to grow by 2% to €713 million (2023: €699 million). Advertising in audio streaming is expected to see double-digit growth of 10% to €118 million (2023: €107 million).

Advertising revenue for TV and video streaming in 2024

Video net advertising revenues in Germany; in bn euros; 2019-2024 (forecast) © VAUNET

For 2024 as a whole, VAUNET expects net audiovisual advertising revenues to increase by 4.8% to around € 5.3 billion (2023: €5.1 billion). Stable development at the previous year’s level of €3.6 billion is expected for television advertising, while VAUNET again expects double-digit growth of 17% to around €1.7 billion (2023: €1.4 billion) for streaming video advertising.

Revenue from paid audio and audiovisual content and teleshopping in 2024

Audiovisual media revenues in Germany; in million euros; 2020-2024 (forecast) © VAUNET

According to VAUNET’s forecasts, revenue from paid content in 2024 is set to rise by 5.0% to €7.5 billion (2023: €7.2 billion). The pay TV segment is expected to remain stable at the previous year’s level of €2.2 billion. By contrast, the paid video on demand segment will continue to see double-digit growth of 10% to around €3.4 billion (2023: €3.1 billion), and revenues from paid audio will increase by 5% to around €1.9 billion (2023: €1.8 billion). A slight upturn in sales of 1% to around €2.3 billion is anticipated in the teleshopping segment (2023: €2.3 billion).