June 12, 2019 / 8:33 AM / a month ago

ProSieben to launch streaming JV on June 18, paid version in winter

FRANKFURT, June 12 (Reuters) - German broadcaster ProSiebenSat.1 Media will launch its streaming joint venture with Discovery Inc, on June 18 with a premium version planned to go live in the coming winter, CEO Max Conze said on Wednesday.

The venture, Joyn, is a key plank of Conze’s strategy to turn around the fortunes of ProSieben, which is battling weak advertising in its commercial channels as digital platforms like Netflix attract viewers.

Conze, in remarks prepared for ProSieben’s annual shareholders’ meeting, said TV advertising remained the company’s biggest challenge but reiterated his confidence in meeting his annual earnings guidance for this year. (Reporting by Douglas Busvine Editing by Thomas Seythal)

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