German rival ProSieben sees pressure easing as Netflix raises prices
CEO Max Conze is bullish on growth at ProSiebenSat.1 Media e-commerce arm
Munich — ProSiebenSat.1 Media believes price increases by US streaming giant Netflix could ease competitive pressure on the German group’s core TV business and is bullish on growth at its e-commerce arm, CEO Max Conze said. Conze took the helm at the Munich-based broadcaster last June but has had a rough welcome from investors who have sent its shares fall to seven-year lows on doubts that he can revive its ailing free-to-air TV business. The former CEO of UK appliances company Dyson told Reuters plans to relaunch a German streaming venture in cooperation with Discovery Inc, public broadcaster ZDF, publisher Axel Springer and possibly others were on track for late summer. “We think there is very meaningful space next to Amazon and Netflix to create a German Hulu that aggregates all the German content that people love,” he said, referring to the Disney-backed US platform. Cash burn Asked about the recent price increase by Netflix, as well as the cash burn reported in its latest resul...
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