TV, streaming, online and video
Stephan Schmitter becomes head of RTL Deutschland
November 15, 2023, 9:56 a.m
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A change in leadership is imminent at RTL Deutschland: Thomas Rabe will be replaced by Stephan Schmitter at the turn of the year. “The most important task at RTL Deutschland is the transformation of the business,” says Rabe.
Stephan Schmitter will be head of RTL Deutschland from January 2024, which also includes ntv. The 49-year-old is taking over the management position from Thomas Rabe, as the European RTL Group announced. In addition to his current job as managing director of the program, Schmitter will Streaming service RTL+ and are responsible for the converted publishing business Gruner + Jahr (G+J). Rabe, who has been the head of Bertelsmann since 2012 and of its TV subsidiary RTL Group since April 2019, also took over the chairmanship of the management board of RTL Deutschland in late summer 2022.
Rabe told the Reuters news agency that he was happy and relieved that a boss for the German business had been found from the recently formed management team. “RTL Deutschland needs a CEO who thinks and does RTL Deutschland from morning to night.” Despite his great commitment, he was unable to do this because of his duties at Bertelsmann and the RTL Group, said Rabe. The personnel is therefore also a relief for him.
“The most important task at RTL Deutschland is the transformation of the business,” emphasized Rabe. It’s about managing the transition from traditional television to streaming, online and video. RTL is also still doing well on linear TV and the RTL+ streaming service currently has almost 4.7 million paying subscribers in Germany. In the RTL Group, this number should then rise to ten million in 2026.
Third quarter “very strong”
RTL has to cope with the economic downturn and falling advertising sales. That’s why Rabe recently adjusted the group’s targets for 2023 for the second time this year. The German advertising market is very weak this year and will likely see a decline of eight percent in 2023, the 58-year-old manager told Reuters.
However, RTL’s adjusted earnings (EBITA) results in the third quarter were “very strong”. “September was – I think – the best September since the RTL Group was founded.” The group only published sales figures after nine months. Rabe does not see a turnaround in the advertising business for the time being. Sales here are likely to fall further in November; at most, a slight increase is possible in December.
Schmitter will also join Bertelsmann’s extended management team. He came to RTL in 2004, initially made a career in the radio division and became head of RTL Radio Deutschland in 2018. After several positions, he was promoted to the management of RTL Deutschland a year ago.