Parship helped German media giant ProSiebenSat.1’s digital ventures category see a 50% year-over-year revenue increase this quarter.
Revenue for the digital ventures & commerce segment increased from €152m in the previous year to €227m in Q2 of 2017, a growth of 50%.
This revenue growth led to a 58% increase in adjusted EBITDA to €45m, up from €29m last year.
And in ProSiebenSat.1’s Q2 financial report, the company said that the online dating vertical with Parship Elite Group made “the largest contribution to growth”.
Overall, the financial report posted total revenues of €962m for ProSiebenSat.1, a 9% increase from last year, with adjusted EBITDA also rising to €270m.
ProSiebenSat.1 bought 50% of Parship for €100m in September 2016, a deal that valued the German dating business at €300m.
Parship Elite Group, which has over 230 employees in its Hamburg headquarters, owns European dating brands Parship and ElitePartners.
On purchasing the stake in Parship, ProSiebenSat.1 said it planned to grow the online dating brand with TV advertising – while also giving it a new logo.
And considering Parship’s performance in these Q2 results, it seems like this strategy has been performing extremely well, the dating brand helping to push a €75m yearly revenue increase.
Read the full report here.