Broadcaster RTL to cut 600 jobs in Germany

FRANKFURT: The German branch of broadcaster RTL is to slash about 600 jobs amid sinking TV revenue, the firm said Tuesday, as traditional media struggle in the face of online giants.

“The media market is undergoing profound change,” RTL Deutschland CEO Stephan Schmitter said. “To remain successful and competitive in the long term, we are aligning RTL Deutschland even more consistently with the streaming business.”

TV advertising revenue has fallen 20 percent since 2019, RTL said, while there are now more than 6.5 million subscribers to the group’s streaming services, up from about 800,000 in 2019.