Record $2.25b profit for Fremantle’s parent company -but still curtains for Neighbours
Big company profits, but without a UK outlet, Erinsborough will fade to black.
- Published by David Knox
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- Filed under News
European television giant RTL Group has reported a record profit of €1.5 billion (AUD$2.25b) for 2021.
The result was more than double the €625m (AUD$940m) profit from a year earlier and points to a healthy bounce-back.
RTL, which owns production giant Fremantle, has set an ambitious revenue target of €3 billion (AUD$4.5b) by 2025, a goal it says it will hit with a combination of organic growth and targeted acquisitions.
It will be small comfort to cast and crew of long-running soap Neighbours which is set to end a 37 year run in June after Fremantle was unable to secure a new UK broadcaster.
It comes after Paramount-owned Channel 5 announced it would invest in more local dramas. That’s despite Paramount-owned Network 10 expressing its desire to continue the show, but not with an increased license fee.
Last month Paramount also announced US$8b (AUD$10.9b) global profit for the three months ended 31st December 2021.
Source: Hollywood Reporter
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One Response
They only needed to invest some decent money into the script writing department and keep the story line simple (nosey neighbours, simple romance, past life problems that come to haunt the neighbourhood, etc) and the show would easily have another ten years of life.