ProSiebenSat.1 Media SE · XETR:PSM
ProSiebenSat.1 Media — Investor Day (December 2017)
125 slides from ProSiebenSat.1 Media's investor day presentation, Dec 6, 2017
Slide 1: Research Facts: TV Usage
Capital Markets Day – December 6, 2017 PILLAR 1: ENTERTAINMENT RESEARCH FACTS: TV USAGE Guido Modenbach
Slide 2: Reference group 14-49 covers only a minority of population and reach
REFERENCE GROUP 14-49 COVERS ONLY A MINORITY IN TERMS OF POPULATION AND REACH SHARE OF POPULATION1) SHARE OF TV REACH2) 80% 80% 78% 73% 75% 72% 71% 71% 70% 70% 60% 60% 50% 47% 50% 43% 41% 42% 40% 40% 34% 30% 30% 30% 20% 20% 10% 10% 0% 0% 2012 2017 2022E 2012 2017 2022E A 14-49 A 14-69 A 14-49 A 14-6
Slide 3: TV viewing in Germany in a healthy state
TV VIEWING IN GERMANY IN A HEALTHY STATE DAILY TV VIEWING TIME1) [in min] -2.3% 216 216 211 209 213 225 226 222 220 221 222 223 218 A 14-69 90% 63% CAGR 2005-2016 +0.3% Internet access3) Internet access2) 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017E -5.9% 185 184 178 178 182 192
Slide 4: Decline in TV viewing time 2017 driven by three main factors
DECLINE IN TV VIEWING TIME 2017 DRIVEN BY THREE MAIN FACTORS TV viewing time A 14-69 [in min] TV viewing time A 14-49 [in min] ∑ -2.3% ∑ -5.9% -1.2% -2.7% -1.0% -2.0% -1.1% -0.2% 1 2 3 1 2 3 PANEL ARTEFACTS WITH NEGATIVE IMPACT ON VIEWING TIME OF YOUNG TARGET GROUPS Source: AGF in cooperation with G
Slide 5: TV viewing time underestimated in Germany due to panel artefacts
TV VIEWING TIME IS UNDERESTIMATED IN GERMANY DUE TO PANEL ARTEFACTS SIGNIFICANT LACK OF YOUNG EXAMPLE: VIEWING TIME IN TARGET GROUP A 14-292) PRIMARY INCOME EARNERS IN GERMAN TV PANEL1) Underrepresented in ratings Overrepresented in ratings Primary income Coverage through earner TV panel 200 173 173
Slide 6: Viewing time will stabilize in 2018
VIEWING TIME WILL STABILIZE IN 2018 THROUGH TV PANEL ADJUSTMENTS, CAPTURING LIVE STREAMING ON OTHER DEVICES & SPORTS TV viewing time A 14-49 [in min] ∑ -5.9% ∑ +3.9% -1.2% -2.7% -2.0% -2.5% +1.4% +2.0% +3.0% 1 2 3 TV VIEWING TIME AND REACH WILL RISE IN 2018 Source: AGF in cooperation with GfK/DAP/TV
Slide 7: Capturing live streaming with positive effect in 2019 and 2020
CAPTURING LIVE STREAMING WITH POSITIVE EFFECT IN 2019 AND 2020 DAILY TV VIEWING TIME [in min] 226 range1) 225 222 222 223 222 223 ] 221 ] 216 216 211 209 213 220 221 218 221 A 14-69 220 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017E 2018E 2019E 2020E 185 184 178 178 182 192 192 18
Slide 8: Live TV dominates video consumption in Germany by far
LIVE TV DOMINATES VIDEO CONSUMPTION IN GERMANY BY FAR … A 14-69 TV REACH STABLE A 14-69 DAILY TV USAGE IS ø 3h 48min1) Reach [in %] Usage time [in min] 260 96 95 94 100 93 93 93 93 240 230 231 232 233 231 228 228 80 75 74 72 70 70 70 71 220 67 200 60 59 60 60 63 65 × 7.5 57 30 40 27 29 22 24 20 20 2
Slide 9: Even millennials mostly consume video on TV
… AND EVEN THE MILLENNIALS MOSTLY CONSUME VIDEO ON TV TWO THIRDS OF VIDEO USAGE IS LINEAR TV1) LIFE STAGES DETERMINE TV AND ONLINE VIDEO USAGE2) Share of complete video usage [per day] [Minutes per day], A 14-34, by life stages 200 179 TV conventional + alternative Millennials 160 4% TV A 14-34 = 67
Slide 10: Netflix and Amazon Video without major impact on TV
NETFLIX AND AMAZON VIDEO WITHOUT MAJOR IMPACT ON TV PENETRATION AND DAILY PAYVOD USAGE TIME LIMITED DAILY SVOD USAGE2) RATHER FLAT SINCE Q1/20171) PayVoD penetration [in %], PayVoD daily usage time [in minutes] Usage frequency [in %], A 14-69, Q3/2017 reach [in %] viewing time [in minutes] 20 19 17
Slide 11: PayVoD potential limited to 60% penetration
PAYVOD POTENTIAL (A 14-49) IN GERMANY MOST LIKELY LIMITED TO 60% PENETRATION Recent forsa survey Estimate 59.7% short-term growth 5.4% (2018E) 37% long-term 8.1% growth 43.5% +6% 2.7% (2020E) Assumption: 1.5 user per new subscriber PayVoD Penetration Concrete General Interest Incremental Factor PayV
Slide 12: Minor impact on TV usage by increasing PayVoD penetration
MINOR IMPACT ON TV USAGE BY INCREASING PAYVOD PENETRATION IMPACT SCENARIOS OF PAYVOD PENETRATION ON A 14-49 TV USAGE PayVoD 50% 60% 80% 100% Penetration Incremental loss in -2% -4% -9% -13% TV viewing time Potential annual loss until 2020 -0.7% -1.5% -3.0% -4.6% (3 years CAGR) most likely ASSUMPTION
Slide 13: YouTube with broad user base but concentrated on heavy users
YOUTUBE WITH BROAD USER BASE BUT … CONCENTRATED ON A SMALL BASE OF HEAVY USERS BROAD USER BASE … … BUT LOW VIEWING TIME & HIGH USAGE CONCENTRATION YouTube penetration by age groups1) Daily YouTube video 11% usage [in minutes]1) A 14-69 26 23 11 12 72 8 of YouTube’s users A 14-49 39 28 11 9 86 12 gen
Slide 14: Facebook's reach in Germany limited and declining in young groups
FACEBOOK’S REACH IN GERMANY IS LIMITED AND STRONGLY DECLINING IN YOUNG AGE GROUPS FACEBOOK REACH DEVELOPMENT BY AGE GROUPS IN GERMANY Reach [in %] 100 77 80 72 73 69 66 65 63 61 59 56 60 54 -43% 60 61 61 58 57 56 56 45 44 52 54 40 21 22 21 17 18 19 19 18 18 20 13 15 A 14–19 A 20–49 0 A 50+ Q1/15 Q2/
Slide 15: Users not interested in ad videos on Facebook
USERS NOT INTERESTED IN AD VIDEOS ON FACEBOOK 77% INTERRUPT WITHIN THE FIRST 3 SEC LOW AVERAGE VIEWING TIME Facebook video ad reach [in %]1) 1.6 min 100 100% 80% daily video viewing time2) 60% 40% 20% 23 15 1.7 sec 10 7 3 average viewing time on posts3) 0% Impression 3 sec 5 sec 10 sec 15 sec 20 sec
Slide 16: TV is the dominant medium in Germany
TV IS THE DOMINANT MEDIUM IN GERMANY 1 TV viewing remarkably constant over years Panel adjustments, capturing live streaming on other devices 2 and sports will stabilize measured viewing time in 2018 3 TV dominates video consumption in Germany by far 4 TV is the dominant video platform even for mill
Slide 17: Broadcasting
Capital Markets Day – December 6, 2017 PILLAR 1: ENTERTAINMENT BROADCASTING Thomas Ebeling
Slide 18: Agenda: Share of viewing; channel and content strategy
AGENDA 01 SHARE OF VIEWING (SOV) 02 CHANNEL AND CONTENT STRATEGY 109
Slide 19: Leader in the German TV market
1 LEADER IN THE GERMAN TV MARKET [9M, A 14-49, in %] AUDIENCE SHARE GERMANY 27.9 ∆ +0.6% 26.7 pts 27.3 ∆ 25.5 +1.2% pts 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Base: All German TV households, A 14-49, Mon-Sun, 3-3 h; RTL Mediengruppe since June 2016 incl. RTLplus; w/o RTL II minority;
Slide 20: Leader in the Austrian TV market
1 LEADER IN THE AUSTRIAN TV MARKET [9M, A 12-49, in %] AUDIENCE SHARE AUSTRIA 36.2 27.4 ∆ ∆ -24.3% +2.1% pts 25.3 pts 11.9 11.1 8.7 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Basis: All Austrian TV households, A 12-49, Mon-Sun, 3-3 h, ProSiebenSat.1 (all core and small channels) includin
Slide 21: Leader in the Swiss TV market
1 LEADER IN THE SWISS TV MARKET [9M, A 15-49, in %] AUDIENCE SHARE SWITZERLAND 16.8 17.3 ∆ ∆ +0.7% +0.3% 16.5 16.6 pts pts 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Basis: All Swiss TV households (German-speaking), A 15-49, Mon-Sun, 2-2 h, change in CH measurement system in 2013, ProSie
Slide 22: Softer 2017 ratings driven by non prime time
1 SOFTER 2017 RATINGS DRIVEN BY NON PRIME TIME Delta share of viewing Share of external net TV 2017 vs. 2016 advertising revenues 9M 2017 [9M, A 14-49, in %pts] FULL DAY (03:00-03:00) -1.1 100% 100% DAYTIME (01:00-05:00 PM) -2.6 ACCESS TIME (05:00-08:00 PM) -1.9 PRIME TIME -0.2 (08:00-11:00 PM) Note
Slide 23: Top formats on all slots
1 TOP FORMATS ON ALL SLOTS FOR OUR KEY CHANNELS PROSIEBEN AND SAT.1 DAYTIME ACCESS TIME PRIME TIME SAT.1 Frühstücksfernsehen taff Germany‘s Next Topmodel The Voice of Germany Ø 9M 2017 Ø 9M 2017 Ø 9M 2017 Up to 13.4% 12.1% 17.5% 27.1% The Big Bang Theory The Simpsons Promi Big Brother LUKE! Die Schu
Slide 24: Agenda: Share of viewing; channel and content strategy
AGENDA 01 SHARE OF VIEWING (SOV) 02 CHANNEL AND CONTENT STRATEGY 115
Slide 25: Four complementary brand families
2 FOUR COMPLEMENTARY BRAND FAMILIES Comforting leading brand for families and elderly (24-69) Delivers positive emotions, feelings of belonging and advice Leading innovative brand for younger males (14-49) Delivers positive energy with top-notch curated and created content Trusted entertainment bran
Slide 26: Emotional viewer expectations
2 OUR CONTENT DELIVERS A RELIABLE FULFILLMENT OF EMOTIONAL VIEWER EXPECTATIONS ATTRACTIVE BRAND PROVEN FACES “HOSTAGE” CONTENT FAMILIES Complementary positioning Must see content WE CREATE STRONG TV AND FORMAT BRANDS 117
Slide 27: Slightly higher share of U.S. content
2 SLIGHTLY HIGHER SHARE OF U.S. Audience share contribution1) Genres on P7S1 core channels (9M 2017) News Magazines Factual Sports 44% LOCAL Live entertainment COMMISSIONED PROGRAM Non-live entertainment Reality prime time Reality daytime Grid share Local fiction is roughly in line Other Reality wit
Slide 28: U.S. content on linear TV is a strong differentiator against SVOD
2 U.S. CONTENT ON LINEAR TV IS STILL A STRONG DIFFERENTIATOR AGAINST SVOD U.S. CONTENT IS STILL A VIEWERS CLEARLY PREFER STRONG DIFFERENTIATOR FREE-TV OVER SVOD IF SHOWN AGAINST SVOD OFFERINGS ON BOTH MEDIUMS THE BIG BANG THEORY Only 100m ~9% total content overlap 3.3m with Netflix offering1) TV2) S
Slide 29: Key levers to optimize studio deals
2 KEY LEVERS TO OPTIMIZE STUDIO DEALS More selective content picking rights (qualifiers) Return rights for individual titles Improved sublicensing rights for titles with low P7S1 fit Extensions only against reduction of series commitment Flexible lifetime-of-series opt-outs 120
Slide 30: Unique content strategy
2 UNIQUE CONTENT STRATEGY U.S. highlights Attractive local content Second-tier innovative sports © 2016 CBS Broadcasting, Inc. All Rights Reserved Gradually shift to local content depending on … Local content Quality of Ability to improve Availability of ROI of incremental strategy of all U.S. outpu
Slide 31: Long-term goal is higher share of local content
2 LONG-TERM GOAL IS HIGHER SHARE OF LOCAL CONTENT CONTENT MIX P7S1 CORE CHANNELS [Marke share contribution, in %] 100% Local commissioned program 44 +~10%pts U.S. license program 56 9M 2017 2022E GRADUAL SHIFT TO LOCAL CONTENT DEPENDING ON AVAILABILITY OF AFFORDABLE RIGHTS AND ROI OF INCREMENTAL LOC
Slide 32: Affordable and preferred access to great content
2 AFFORDABLE AND PREFERRED ACCESS TO GREAT CONTENT International Own U.S. studios channel & local Own MCN Own digital Own sports production platform platforms partners 123
Slide 33: Broad portfolio of successful local formats
2 BROAD PORTFOLIO OF SUCCESSFUL LOCAL FORMATS EVERGREENS TOP FORMAT SPIN-OFFS INNOVATIONS Stefan Raab as producer Up to Up to 27.0% 14.1% 2018 The Voice of Germany Die Beste Show der Welt Das Ding des Jahres Up to Up to 18.5% 13.0% 2018 SAT.1 Frühstücksfernsehen Beginner gegen Gewinner Start-up! Bas
Slide 34: Increasing inflow from Red Arrow
2 INCREASING INFLOW FROM RED ARROW PUSH OUR “OWN YOUR GRID” STRATEGY … … WITH STRONG RATINGS IN KEY SLOTS Red Arrow share of BCGS’s commissioned content spending Up to Up to [in %]1) Kiss Bang Love 15.4% Married at first Sight 14.4% +4% pts 16 12 Up to Up to The Taste 10.9% Knallerkerle 19.0% Q3 201
Slide 35: Best U.S. fiction portfolio in the German TV market
2 BEST U.S. FICTION PORTFOLIO IN THE GERMAN TV MARKET BEST U.S. CONTENT STOCK MOST SUCCESSFUL MOST PROMISING U.S. SERIES NEW STARTS FICTION PIPELINE Ø9M 2017 17.2m ~10% 14 U.S. viewers3) Lethal Young Weapon Picture Sheldon Picture long-running © 2016 Warner Brothers © Warner Bros. Television series
Slide 36: Strong partnerships for a differentiating non-fictional portfolio
2 STRONG PARTNERSHIPS FOR A DIFFERENTIATING NON-FICTIONAL PORTFOLIO FURTHER EXPANSION OF THEMATIC CONTENT BUILD-UP Lifestyle Second tier sports rights Factual crime Food & Home & Do it Travel Drinks Garden yourself Expansion New … 127
Slide 37: Successful portfolio of second-tier growth sports
2 SUCCESSFUL PORTFOLIO OF SECOND-TIER GROWTH SPORTS SUPER BOWL 2017 NFL DARTS ESPORTS Up to Up to Up to Up to 44.8% 11.6% 8.1% 8.0% KICK BOXING WRESTLING DRONE RACING MIXED MARTIAL ARTS Up to Up to Up to Up to 6.1% 3.7% 2.6% 1.6% Basis: 01.01.2017-28.11.2017, all German TV households (German-speakin
Slide 38: Four levers to improve toprate
2 FOUR LEVERS TO IMPROVE TOPRATE … TALENT & SUPPLIER PROGRAM CREATIVE ORGANIZATION RELATIONSHIPS PLANNING PROCESS Reorganize and Optimize approach Launch new shows in Create formats streamline with preferred “safer” slots with a around proven faces organization producers solid lead-in Explore line e
Slide 39: Supported by freshness level improvement initiatives
2 … SUPPORTED BY FRESHNESS LEVEL IMPROVEMENT INITIATIVES … Transform access time with new Increase density of young and loud reality magazine & telenovela for local stickiness entertainment in prime time Revitalize comedy late night with weekly Further extend “Comedy Friday” star-driven commissioned
Slide 40: Platform agnostic capitalization
2 … AND BY PLATFORM AGNOSTIC CAPITALIZATION EXAMPLES LINEAR TV DIGITAL PUBLISHING TV FORMAT BRANDS DIGITAL ORIGINAL CONTENT Up to Up to Up to 44.8% 11.6% 9.9% Basis: 01.01.2017-18.11.2017, all German TV households (German-speaking), A 14-49, Mon-Sun, 3-3 h; Source: AGF in cooperation with GfK/TV 131
Slide 41: Attractive and superior product for TV target group vs. SVOD
2 WE WILL SECURE AN ATTRACTIVE AND SUPERIOR PRODUCT FOR TV TARGET GROUP VS. SVOD … Local Curated reality & HbbTV Lean back Innovative Top U.S. factual entertainment offerings content Sports content content Non- Thematic/ Very local millennial News well Live comedians local breaks positioned fiction
Slide 42: Red Button driving TV channel loyalty
2 … WITH RED BUTTON DRIVING TV CHANNEL LOYALTY THE UNIQUE #1 DESTINATION FOR INDIVIDUALIZED INFOTAINMENT AND COMMERCE Thematic personalized content Branded channels shopping offers Individual news feeds with local edge 133
Slide 43: Three things to remember
THREE THINGS TO REMEMBER Unique Leadership in content Germany, Improved strategy with Austria and toprate gradual shift Switzerland to local Key levers +10%pts market +1.2 +2.1 +0.7 share contribution of TALENT & SUPPLIER ORGANIZATION RELATIONSHIPS %pts %pts %pts local content vs. competitors 9M 201
Slide 44: Research Facts: TV & Ad ROI
Capital Markets Day – December 6, 2017 PILLAR 1: ENTERTAINMENT RESEARCH FACTS: TV & AD ROI Guido Modenbach
Slide 45: The genuine advantage of TV
THE GENUINE ADVANTAGE OF TV TV COUPLES THE POWER OF THE MEDIUM AND THE POWER OF THE AD THE POWER OF THE MEDIUM THE POWER OF THE AD SUGGESTIVE REACH SPEED x EMOTIONS POWER Probability of exposing the average ad Contribution to the impact of the message “A medium’s advertising value is the product of
Slide 46: Why is reach still the crucial factor for brand growth?
WHY IS REACH STILL THE CRUCIAL FACTOR FOR BRAND GROWTH? THE PROMISES OF TARGETING AND WHAT CONSUMER RESEARCH PROVES Target relevant consumers only to avoid wastage Mass marketing is actually more effective. Byron Sharp Right MESSAGE Professor of Marketing Science at the University of South Australia
Slide 47: Brands grow by continuously reaching all buyers of a category
BRANDS GROW BY CONTINUOUSLY REACHING ALL BUYERS OF A CATEGORY BRANDS GROW WITH ACQUISITION MAJORITY OF BUYERS ARE LIGHT BUYERS2) OF NEW CUSTOMERS1) Purchase acts of a brand in the frozen pizza segment, 2016 70 100 Change in sales quantity 60 80 60 in % 50 More than 90% of the buyers in the categor
Slide 48: Strong correlation between daily reach and large business effects
STRONG CORRELATION BETWEEN DAILY REACH PERFORMANCE AND VERY LARGE BUSINESS EFFECTS THE HISTORIC LINK BETWEEN MEDIA EFFECTIVENESS AND REACH 35% % INCREASE IN VERY LARGE BUSINESS 30% TV EFFECTS FROM ADDING MEDIUM 25% 20% RADIO OUTDOOR PRESS 15% 10% ONLINE CINEMA 5% AVERAGE DAILY REACH 0% 0% 10% 20% 30
Slide 49: TV delivers strongly on both sides of the funnel
TV DELIVERS STRONGLY ON BOTH SIDES OF THE FUNNEL BRAND BUILDING ACTIVATION Awareness Short-term sales impact Ad recognition ROI Relevant associations Ad real-time activation 140
Slide 50: Brand building study 1: TV drives awareness KPIs
BRAND BUILDING STUDY 1: TV DRIVES AWARENESS KPIS UNAIDED BRAND AWARENESS UNAIDED RECALL RECOGNITION +63% +309% +111% 1) 80% 1) 44% 1) 45% 38% 27% 11% Facebook TV Facebook TV Facebook TV 1) Significant on an a-level of 0.01 141 Base: Cross section of 3 test spots/Facebook half desktop, half on mobile
Slide 51: Brand building study 2: people strongly remember TV ads
BRAND BUILDING STUDY 2: PEOPLE STRONGLY REMEMBER TV ADS ADVERTISING RECALL AND SOURCE OF PERCEPTION 89% “What advertising for products or services which you have seen, read or heard recently, can you remember particularly well? And where have you seen, read or heard this advertising?“ 10% 6% 5% 4% 4
Slide 52: Activation study 1: TV proves strong short-term sales impact
ACTIVATION STUDY 1: TV PROVES STRONG SHORT-TERM SALES IMPACT SALES IMPACT (SHORT-TERM ADVERTISING STRENGTH) TV 144 Facebook 118 YouTube 116 Source: “Media Attributes that matter“, ThinkTV/University of Adelaide, 2017 143 Karen Nelson-Field, Professor of Media Innovation at the University of Adelaide
Slide 53: Activation study 2: high ROIs of TV advertising
ACTIVATION STUDY 2: HIGH ROIS OF TV ADVERTISING DISTRIBUTION OF BRANDS BY ROI LEVEL based on 204 FMCG brands in Germany ROI > 4 22% of all 18% analyzed brands: ROI < 1 35% ROI 3-4 ROI 1-2 10% 14% 42% 22% ROI 2-3 ROI > 2 ROI 1-2 Source: ROI Analyzer, GfK/SevenOne Media, 2014 144
Slide 54: High ROI is only relevant if it's scalable
HIGH ROI IS ONLY RELEVANT IF IT‘S SCALABLE THE FACEBOOK ROI DELUSION Questioned study “The impact of video ads on Facebook” TV FACEBOOK Research study: ROI1) 1.6 1.6 “The impact of video ads on Facebook” NET SPEND 2016 (in EUR k) 1,157 280 INCREMENTAL SHORT-TERM 1,814 435 SALES (in EUR k) PROFIT (in
Slide 55: High ROI is only relevant if it's scalable
HIGH ROI IS ONLY RELEVANT IF IT‘S SCALABLE THE FACEBOOK ROI DELUSION TV’S UNIQUE SCALABILITY Questioned study “The impact of video ads on Facebook” £18 m TV FACEBOOK £16 m TV ROI1) 1.6 1.6 INCREMENTAL PROFIT RETURN £14 m Radio NET SPEND (in EUR k) 1,157 280 £12 m Press INCREMENTAL £10 m SHORT-TERM 1
Slide 56: Activation study 3: TV triggers real-time activation
ACTIVATION STUDY 3: TV TRIGGERS REAL-TIME ACTIVATION WEBSITE-VISITS MYDAYS DURING “GERMANY‘S NEXT TOPMODEL” Total Visits Visits Tablet/Smartphone Mydays: Spot Placement Spot Spot Spot Base: GNT show from March 27, 2014 147 Source: SevenOne Media
Slide 57: TV is the key driver for performance campaigns
TV IS THE KEY DRIVER FOR PERFORMANCE CAMPAIGNS EFFECTS OF TV EFFECTS OF TV EFFECTS OF TV EFFECTS OF TV ON FACEBOOK ON ECOMMERCE ON GOOGLE SEARCH1) ON WEBSITE TRAFFIC3) INTERACTIONS2) ORDERS3) ~80% 33% +31% +57% of TV campaigns generate of media-driven Facebook Impact Impact incremental search intera
Slide 58: Digital encourages short-term and activation-driven campaigns
DIGITAL ENCOURAGES SHORT-TERM AND ACTIVATION-DRIVEN CAMPAIGNS SHORT-TERMISM HAS BEEN RISING OPTIMUM BALANCE: 60% BRAND, 40% ACTIVATION Share of short-term focused campaigns Budget spent on activation and brand building 30% 25% % CASES SHORT-TERM 55% 20% 62% 64% 64% Brand Building 15% 10% Activation
Slide 59: Marketing mix models prove TV is the most effective advertising medium
RECENT STUDIES BASED ON MARKETING MIX MODELS PROVE TV IS THE MOST EFFECTIVE ADVERTISING MEDIUM TV HAS THE HIGHEST SALES UPLIFT TV UP TO 7 TIMES BETTER THAN SEARCH Ebiquity, Australia, Sep. 20171) Neustar, USA, June 20172) Sales uplift, Index TV=100: Relative lift for USD 1m Investment3) Index: avera
Slide 60: TV's contribution to ad-generated profit exceeds its share of ad investment
TV’S CONTRIBUTION TO AD-GENERATED PROFIT EXCEEDS BY FAR ITS SHARE OF AD INVESTMENT Share of ad spend and share of ad-generated profit (3 years) in the UK Share of ad spend Share of ad-generated profit 80% 71% 70% 60% 54% 50% 40% 30% 23% 20% 18% 10% 6% 4% 8% 5% 3% 3% 4% 1% 0% TV Print Online video Ra
Slide 61: TV is the most powerful business driver for advertisers
TV IS THE MOST POWERFUL BUSINESS DRIVER FOR ADVERTISERS Only TV combines reach and speed of the medium with 1 suggestive and emotional power of the ad Brands grow by increasing penetration and sales with light 2 buyers of the brand 3 Reach is crucial for sales and brand growth TV is the major driver
Slide 62: Marketing executives on the continued importance of TV
“We targeted too much, and we went too narrow.” 6) “TV remains very important for us. It’s still a very important way for us to drive mass reach, and the right reach as well.” 4) Marc Pritchard Andrew Clarke CMO CMO “A lot of our campaign recall comes from TV “The investments in TV advertising would
Slide 63: Ad Sales & Media Trends
Capital Markets Day – December 6, 2017 PILLAR 1: ENTERTAINMENT AD SALES & MEDIA TRENDS Sabine Eckhardt
Slide 64: Key ad sales trends in favor of TV
KEY AD SALES TRENDS IN FAVOR OF TV Evolving sophistication Fast growing Addressable Aging population with of analytics and deeper TV segment, enabling increasing relevance for understanding of ROI expansion of TV market advertisers and TV reach Rising importance of Future opportunities Demand for co
Slide 65: P7S1 leader in Germany, Austria & Switzerland
P7S1 LEADER IN GERMANY, AUSTRIA & SWITZERLAND SHARE OF ADVERTISING [Net Share] [Gross Share] [Gross Share] 40% 39% 40% 31% 28% 25% 20% Note: share of advertising in net and gross TV advertising market, 9M 2017 Source: Germany: internal estimate; Austria: internal estimate; P7S1 Group revenues includ
Slide 66: Tackling all growing budget sources
TACKLING ALL GROWING BUDGET SOURCES NET AD MARKET [in EUR bn] 2017E 2022E P7S1 GROWTH LEVERS Linear TV 4.6 5.0 markets Core Digital Video 0.7 3.0 Sum core markets 5.3 8.0 Addressable TV/HbbTV <0.1 0.3 Additional markets Performance 6.4 7.8 (D)OOH 1.1 1.3 3.5x POS & Freesheets 9.8 10.6 Sum core & add
Slide 67: Our levers will secure growth
1 2 OUR LEVERS WILL SECURE GROWTH P7S1 GROWTH POTENTIAL UNTIL 2022 TV: Detailed in the following 6 5 4 3 2 1 2017 Linear Addressable Digital Performance DOOH POS & 2022E TV TV Video Freesheets 158
Slide 68: Solid growth base with big on-top potential for TV
1 2 SOLID GROWTH BASE WITH BIG ON TOP POTENTIAL FOR TV GROWTH LEVERS NET MARKET GROWTH POTENTIAL 2022 VS. 2017 [in EUR m] A Basic market growth/net price increase ~230 Solid growth base B National print cannibalization ~360 1 C Sales commercial cooperations ~100 Call-to-action elements in TV D (e.g.
Slide 69: TV pricing levers to drive market growth
1 TV PRICING LEVERS TO DRIVE MARKET GROWTH Increase niche campaign efficiency TARGET GROUP for advertisers and capitalization SPECIFIC PRICING of ad inventory Realize upside monetization potential FURTHER NET CPT via further CPT increases, also INCREASE POTENTIAL offsetting potential reach declines
Slide 70: Further monetization potential via TV CPT increase
1 FURTHER MONETIZATION POTENTIAL VIA TV CPT INCREASE Net CPT1) [A 18-49, in EUR2)] Net CPT1) [A 16-34, in EUR2)] CAGR 7% CAGR 7% 29 30 19 20 2010 2016 2010 2016 CAGR 3% CAGR 4% 24 20 9 11 2010 2016 2010 2016 1) Estimate based on AGF/GfK, Nielsen, ZAW, Media Dynamics, egta 161 2) Currency conversion
Slide 71: TV & digital share increase driven by print loss
1 TV & DIGITAL SHARE INCREASE DRIVEN BY PRINT LOSS GERMAN MEDIA MIX TODAY [net, in %] FUTURE MEDIA MIX [net, in %] 9 8 10 7 7 85% 83% 33 58% 63 52 35 Others Print Digital 31 23 23 TV 2016 2019E 2019E FUTURE MEDIA MIX WILL BE DOMINATED BY TV AND DIGITAL, DRIVEN BY LOSS OF PRINT Note: Excluding POS bu
Slide 72: TV levers to address print potential
1 TV LEVERS TO ADDRESS PRINT POTENTIAL EUR REACH: Shift of national reach campaigns to TV ~360m market ADDRESSABLE TV: Accessing new business growth potential SMALL CHANNELS: Targeting of specific niche print segments THEMATIC AD BREAKS: Special interest fields SPECIAL INTEREST FORMATS: Formats and
Slide 73: TV commercial coops with sales promo budgets
1 TV COMMERCIAL COOPS WITH SALES PROMO BUDGETS Co-branded Co-branded Co-branded TV flight tag-on TV flight TV flight and online promotion and online promotion and online promotion EUR ~100m MARKET GROWTH POTENTIAL1) +25% MORE CAMPAIGNS REALIZED VS. 20162) 1) Note: Estimate based on Magna Global (abo
Slide 74: TV ads as significant call-to-action trigger
1 TV ADS AS SIGNIFICANT CALL-TO-ACTION TRIGGER TRAFFIC TRIGGER ENGAGEMENT TRIGGER PLACEMENT SPOT SPOT EUR ~50m market growth potential1) TV triggers immediate traffic e.g., TV ads with performance-oriented search requests, website visits1) elements for engagement and conversion TV AD MARKET BENEFITS
Slide 75: TV opportunity via new voice recognition trend
1 TV OPPORTUNITY VIA NEW VOICE RECOGNITION TREND USER ACTIVATION : “Buy perfume XY at Flaconi online shop” SHOP NOW - 20% LEVERAGING POWER OF TV TO TRIGGER ACTIONS PUSHING CLIENTS’ OWN WEB-SHOP SALES VS. 3RD PARTY SHOPS SKIPPING (ONLINE) SEARCH AND PUSH BRANDING ON TV 166
Slide 76: TV market expansion with addressable TV
2 TV MARKET EXPANSION WITH ADDRESSABLE TV EUR EXISTING BUSINESS NEW BUSINESS ~260m market I II Ad clients’ niche growth & secondary brands potential Providing III Medium-sized and incremental reach decentral business IV Local & small business 11.5m DEVICES REACHABLE1) 446m CONTACTS/MONTH1) 1) Source
Slide 77: Addressable TV growth potential from large budgets
2 ADDRESSABLE TV GROWTH POTENTIAL FROM LARGE BUDGETS MARKET POTENTIAL [2016, in EUR bn] Attracting new budgets 3.1 1.7 0.8 Decentral Niche branding Performance- driven Addressable TV potential Note: Based on Nielsen data and P7S1 own estimates 168
Slide 78: Growing attractive addressable TV portfolio
2 GROWING ATTRACTIVE ADDRESSABLE TV PORTFOLIO Addressable TV targeting options Products Audience targeting Branded Red Button Geo targeting SwitchIn Successful New test in Behavioral targeting Fullscreen Spot Overlay Q4 2017 169
Slide 79: New behavioral targeting to access untapped budgets
2 NEW BEHAVIORAL TARGETING TO ACCESS UNTAPPED BUDGETS Bookable since Sep. 2017 Family +58% Print with kids uplift within target group budgets HHNI +40% Budgets of above uplift within luxury brands EUR 3,000 target group Budgets for Generation 50+ +39% public channels uplift within households target
Slide 80: Successful fullscreen spot overlay test executed
2 SUCCESSFUL FULLSCREEN SPOT OVERLAY TEST EXECUTED Johnson & Johnson SATURN MEDIA MARKT Access Prime Time, October 21, 2017 Daytime, October 28, 2017 Spot Overlay with retargeting on ProSieben MAXX with potential of ~5m devices on HbbTV 1.5 171
Slide 81: Our levers will secure growth
3 4 5 6 OUR LEVERS WILL SECURE GROWTH P7S1 GROWTH POTENTIAL UNTIL 2022 Detailed in the following 6 5 4 3 2 1 2017 Linear Addressable Digital Performance DOOH POS & 2022E TV TV Video Freesheets 172
Slide 82: Premium video market leader with two-fold strategy
3 PREMIUM VIDEO MARKET LEADER WITH TWO-FOLD STRATEGY PREMIUM INVENTORY & WEBSTARS PREMIUM MANDATES PREMIUM REACH TV SITES STUDIO71 DIGITAL PREMIUM MANDATES 29m UNIQUE VIDEO Auto & Sport News & Fashion, Beauty USERS1) AND Entertainment & Lifestyle >400m VIDEO VIEWS2) With O&O premium portfolio and 3r
Slide 83: eSome to further capture performance-driven business
4 ESOME TO FURTHER CAPTURE PERFORMANCE-DRIVEN BUSINESS 2018 2017 Social Display Add. TV Market leading for all Expand advertising activities KPI-driven sales KPI-driven sales capabilities in all within social networks social networks to Display & Addressable TV STEPPING STONE TO FURTHER EXPAND PERFO
Slide 84: Gaining traction in strongly growing DOOH market
5 GAINING TRACTION IN STRONGLY GROWING DOOH MARKET … DOOH MARKET PLAYERS2) P7S1 PORTFOLIO [2017, revenues in %] Others 3) 3) 7% ~282m4) contacts/months +16.4% 11% 12% FOCUS TOUCH POINTS 70% DOOH GROWTH1) 7AIRPORT URBAN >2.6k screens Multiple Advertisers aspire to a more to address business touchpoin
Slide 85: Providing strong synergies for P7S1 ad clients
5 … PROVIDING STRONG SYNERGIES FOR P7S1 AD CLIENTS Samsung with Innovative urban Strong synergies between 7Screen on airports touchpoint P7S1 TV customers and DOOH Galaxy S8 campaign TV customers booking DOOH1) [2016, in %] +50% 30% 20% 60% of entire DOOH budget with P7S1 Entire market Source: Niels
Slide 86: Marktguru to conquer sales promotion budgets
6 MARKTGURU TO CONQUER SALES PROMOTION BUDGETS MARKET POTENTIAL DIGITAL FREESHEET MARKET [FY 2017] PLAYERS2) [2017, revenues in %] EUR 14% 8% 1.9 NET FREESHEET MARKET bn 1) 78% Currently EUR <100m Kaufda as successful and highly addressable & strongly growing profitable proof case for digital freesh
Slide 87: Outperforming key competitor with cashback feature
6 OUTPERFORMING KEY COMPETITOR WITH CASHBACK FEATURE Teaser ad CLEAR USPs VS. KAUFDA Interactive leaflet Topic world 1 Promotion power of TV Online shop link Leaflet search LAUNCHED OCT 2017 Access to younger Product search CASHBACK COUPONS 2 target groups Cashback feature as TV Spots 3 promot
Slide 88: Six growth levers and three strong enablers
A B C SIX GROWTH LEVERS AND THREE STRONG ENABLERS 6 5 4 3 2 1 2017 TV Addressable Digital Performance DOOH POS & 2022E TV Video Freesheets A B C Innovative Advertising Data Powerful Sales House Concepts 179
Slide 89: Creation is key for ad clients
A CREATION IS KEY FOR AD CLIENTS 1 2 CREATIVE CREATIVE Content Marketing innovative 49 CREATION explains … & 360° campaigns ad products % … of SALES Impact 6SEC TV BOOSTER AD 6 sec Source: CBS/Nielsen Catalina Solutions, June 2017 (incl. evaluation of hundreds of marketing mix models) 180
Slide 90: Content marketing as trigger to convert major print client
A 1 CONTENT MKTG AS TRIGGER TO CONVERT MAJOR PRINT CLIENT TV-advertorial example: musician raps 2x higher ad recall summary vs. average campaigns of last show +51% more young viewers vs. average TV audience 2.5m VV + 11.4m CREATIVE contacts on Social Media 360° MEDIA CONCEPT FOR ALDI’S FIRST TV IMAG
Slide 91: TV live commercials for increased monetization
A 2 TV LIVE COMMERCIALS FOR INCREASED MONETIZATION Example: Up to 3x higher monetization vs. classic TV commercials 3x higher top of mind awareness vs. classic commercials 4x rewarded by Art Directors Club renowned creativity award TV SHOW HOSTS PERFORM TV COMMERCIALS LIVE ON STAGE Source: SevenOne
Slide 92: Premium contextual cut-in as advanced product
A 2 PREMIUM CONTEXTUAL CUT-IN AS ADVANCED PRODUCT CONTENT: 5 SEC CONTEXTUAL CUT-IN: CONTENT: getting driver’s license at driving home in car, TV ad continuation with no federal office with friends promotes pay sharing service further commercial among friends for gas costs 4x higher +89% share for +3
Slide 93: New 6sec TV spots to monetize client's digital content
A 2 NEW 6SEC TV SPOTS TO MONETIZE CLIENT’S DIGITAL CONTENT REACH BOOSTER 6 Program Reg Program 6sec INCREASE Ad TV BOOSTER ADS spot Break NET REACH SEC REMINDER PUSH 6sec Reg 6sec Reg 6sec Reg INCREASE Ad Ad Ad High-quality & spot spot spot AWARENESS brand-safe Higher environ- mass ment reach Source
Slide 94: 3-fold data strategy for audience-driven campaigns
B 3-FOLD DATA STRATEGY FOR AUDIENCE-DRIVEN CAMPAIGNS COMPREHENSIVE INTELLIGENT DATA STRATEGIC OWN DATA PROFILES CO-OPERATIONS LOG-IN ALLIANCE Online 20m+1) Data Mobile 40m+1) Data2) Addressable TV Data 10m+1) 1) Based on unique cookies active per month 2) Excl. app reach 185 Source: P7S1
Slide 95: Performance uplifts for ad clients and own assets
B PERFORMANCE UPLIFTS FOR AD CLIENTS AND OWN ASSETS ZALANDO DATA EXAMPLE AWARENESS AND SALES BRAND ENGAGEMENT CAMPAIGN CAMPAIGN FOR FASHION CLIENT FOR OWN ASSET +92% +233% +141% +130% Purchase Intent Awareness Purchase Intent Awareness Source: SevenOne Media 186
Slide 96: Most innovative, efficient & creative sales house
C MOST INNOVATIVE, EFFICIENT & CREATIVE SALES HOUSE The most Tackle innovative, budgets in Win new new ad efficient and advertisers segments creative Expand and extend sales house existing value creation business of our ad clients and Deliver best in class agencies monetization and ROIs for our ad c
Slide 97: Core and specialized sales to tackle all budgets
C CORE AND SPECIALIZED SALES TO TACKLE ALL BUDGETS FOCUS BUDGETS Linear TV Addressable Digital Video Performance DOOH POS & TV Freesheets Key account Core Agency Sales Units New Business Addressable TV DOOH Commercial cooperation/ Specialized Marktguru Sales Units Data Programmatic Ventures Sales Co
Slide 98: Three things to remember
THREE THINGS TO REMEMBER We have a We more than superior, future triple our ready position addressable We continue in the German ad market size to grow overall ad market P7S1 ad revenue in next 5 years 189
Slide 99: Entertainment Alliances & Digital Platforms
Capital Markets Day – December 6, 2017 PILLAR 1: ENTERTAINMENT ENTERTAINMENT ALLIANCES & DIGITAL PLATFORMS Christof Wahl
Slide 100: We established powerful partnerships and platforms
WE ESTABLISHED POWERFUL PARTNERSHIPS AND PLATFORMS EUROPEAN BROADCASTER STUDIO71 CO-INVESTMENT EXCHANGE ONE-STOP-PLATFORM FOR LOG-IN PARTNER ALLIANCE ONLINE VIDEO CONSUMPTION Note: Selection, Login-in alliance based on joint foundation – subject to approval of anti-trust authorities and deal signing
Slide 101: Entertainment Alliances / Digital Platforms
01 ENTERTAINMENT ALLIANCES 02 DIGITAL PLATFORMS 192
Slide 102: New partnerships in 2017
1 20 + New partnerships in 2017 across key markets 193
Slide 103: European media alliance as strong network
1 EUROPEAN MEDIA ALLIANCE AS STRONG NETWORK TO FACILITATE COOPERATIONS Nordics UK Belgium Poland Household reach France GSA CEE >200m Portugal Initiated by P7S1 Italy Spain Greece, SEE Turkey in 2014 Note: GSA = Germany, Switzerland & Austria 194
Slide 104: We built an AdTech solution house
1 WE BUILT AN ADTECH SOLUTION HOUSE … P7S1 Advertising Platform Solutions AdTech Solution Provider AdTech Product House NEW NEW AdTech European advertising Product House platform business Video Audience Network with special broadcaster focus Performance Sales NEW WE ARE BUILDING A BLUEPRINT OF AN AD
Slide 105: Allowing partners to create incremental revenues
1 … ALLOWING PARTNERS TO CREATE INCREMENTAL REVENUES AND SECURE INDEPENDENCE P7S1 ADVERTISING PLATFORM SOLUTIONS Integrated ad On top ad revenue offerings through access to pan-European 1) High efficiency campaigns Price optimization Incremental ad Pure data sales as revenue from Acces
Slide 106: New ad revenue streams with EBX
1 NEW AD REVENUE STREAMS WITH EBX PAN-EUROPEAN ONLINE VIDEO AD MARKET STRONG CUSTOMER >30% CAGR POTENTIAL1) 2016-2020 >100m PURE PROGRAMMATIC OPERATIONS MONTHLY UNIQUE USERS Tactics: Aligned target group definition Joint sales force One customer interface Source: EBX analysis based on eMarketer 197
Slide 107: German log-in alliance to strengthen targeting
1 GERMAN LOG-IN ALLIANCE TO STRENGTHEN TARGETING 45m users1) One login EU regulation angemeldet bleiben compliant Maximum user convenience First partner Note: Initiative based on joint foundation – subject to approval of anti-trust authorities and deal signing 198 1) Estimated user base at launch
Slide 108: New central bonus platform planned
1 NEW CENTRAL BONUS PLATFORM PLANNED NEW CENTRAL BONUS PLATFORM 30+ PARTNERS Selection Mein Universum Willkommen bei bonus4me – Deiner Welt voller Vorteile and many more … SIGNIFICANT ON-TOP VALUE FOR USERS 199
Slide 109: Data coops across ad-relevant verticals
1 DATA COOPS ACROSS AD-RELEVANT VERTICALS … FASHION/ FINANCE/ BEAUTY & TELCO & FOOD/ BEV INSURANCE LIFESTYLE ELECTRONICS TRAVEL & HOME AUTOMOTIVE & B2B 1) 2) 2) 1) Test case 2) Excerpt 200
Slide 110: To build successful ad products
1 … TO BUILD SUCCESSFUL AD PRODUCTS EXAMPLE: ZALANDO COOP +28% +10% +92% +233% +141% +130% Purchase Intent Awareness Purchase Intent Awareness Purchase Intent Awareness 201
Slide 111: We increase quantity and depth of our data profiles
1 WE INCREASE QUANTITY & DEPTH OF OUR DATA PROFILES Thereof in-depth Platforms & Brands Total unique profiles3) commerce profiles4) Desktop Web 20m+ 8m+ >50 Mobile Web1) platforms & brands in 40m+ 5m+ 20182) HbbTV 10m+ New products in pipeline 1) Excl. app reach 2) Including strategic minorities col
Slide 112: Joint investment into new tech opportunities
1 JOINT INVESTMENT INTO NEW TECH OPPORTUNITIES STRONG INVESTOR BACKING MEDIA RELATED INVESTMENT FOCUS AD TECH AR/VR VIDEO ECOMMERCE NATIVE & CONTENT ADVERTISING 203
Slide 113: Significant shared service potential for European partners
1 SIGNIFICANT SHARED SERVICE POTENTIAL FOR EUROPEAN PARTNERS Selection TYPICAL BROADCASTER TECH SERVICES OTT Content Content Playout services mgmt. processing Content Delivery AdTech Analysis EUR tools Network ~700-900m total tech OPEX p.a. of European broadcasters 204
Slide 114: Our mid-term vision
1 OUR MID-TERM VISION JOINTLY BOOST COMPETITIVENESS OF EUROPEAN BROADCASTERS P7S1 ADVERTISING SHARED SERVICE PLATFORM SOLUTIONS HOUSE European advertising Cost synergies service platform business house providing tech with special services for European broadcaster focus broadcasters 205
Slide 115: Entertainment Alliances / Digital Platforms
01 ENTERTAINMENT ALLIANCES 02 DIGITAL PLATFORMS 206
Slide 116: One-stop-shop for online video consumption
2 ONE-STOP-SHOP FOR ONLINE VIDEO CONSUMPTION IN GERMANY … LIVETV 7TV ToU JV1)1) 2You CATCH-UP / PAYVOD TV EXTENSION 1) Working title 207
Slide 117: With freemium upsell model
2 … WITH FREEMIUM UPSELL MODEL Vision: Subject to final changes Instant Catch-Up5) LiveTV SVoD3) Restart5) € 4) Premium &€€ A 30 days HD Technical Access €€ Fee 30 days HD &&AD AD Registration Offer REG 7 days SD & AD EUR ~3.7bn Free Offer addressable AD market in 7 days 20226) +24% Further partners
Slide 118: Maxdome evolution
2 MAXDOME EVOLUTION: STRENGTHEN P7S1 & NON-US CONTENT AND ENSURE PRESENCE ON ALL PLATFORMS Content Product Distribution P7S1 formats SHIFT & B2C US-Studios SHIFT Add-on channels (exemplary) Kids Sports Anime New personalized Reco engine Google Home integration Indies B2B 209
Slide 119: Red Button portal as personalized infotainment and commerce platform
2 RED BUTTON PORTAL AS NEW PERSONALIZED INFOTAINMENT & COMMERCE PLATFORM … NEWS FEED Personalized news feed with local edge Integration of commerce elements Dual usage next to the TV program CONTENT Thematic content Sponsored partner CHANNELS channels channels 210
Slide 120: Addressing on-top revenue potential
2 … ADDRESSING ON-TOP REVENUE POTENTIAL DEVICES TARGET GROUP USERS VISITS MONETIZATION 18-20m 15-18m 7-10m 30-40m Ad Placement HbbTV devices Users with news & Monthly Active Visits per month Sponsoring (connected TVs) entertainment Users content interest Lead Gen Note: Target state 211
Slide 121: Attractive 7Sports portfolio
2 ATTRACTIVE 7SPORTS PORTFOLIO … Fighting Mass Sport IP & Live Talent platform platforms Events management MMP 212
Slide 122: With innovative platforms
2 … WITH INNOVATIVE PLATFORMS Selection 0:00:13:24 Pause Highlight 1) Film match with smartphone Pay-per-view User generated soccer content from Automatic highlight clip cutting voluntary contributors Subscription with >2m MUU2) Upload & share 1) Strategic minority JV 2) Monthly Unique Users in Germ
Slide 123: Continuously growing HD penetration
2 CONTINUOUSLY GROWING HD PENETRATION GROWING HD SUBSCRIBER BASE [in m] >20% +30% +265% OF GERMAN TV HOUSEHOLDS CAGR PAY 8.4 +On-top FOR TECHNICAL potential from DVB-T2 ACCESS 2.3 TO OUR HD CHANNELS Q3 2012 Q3 2017 Note: HD penetration based on total TV households in Germany (38.3m); Source: Astra T
Slide 124: Three things to remember
THREE THINGS TO REMEMBER Strong Independent We build a partnerships AdTech/Data new video are key for offers upside platform with future growth potential unique value proposition 20+ partnerships 3 ASSETS acquired and LIVETV, in 2017 across 5 NEW DATA CATCH-UP, KEY MARKETS partnerships in 20171) PAY
Slide 125: Disclaimer
DISCLAIMER This presentation contains "forward-looking statements" regarding ProSiebenSat.1 Media SE ("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 objecti