We have a clear vision. The company intends over the next few years to become one of the leading entertainment and commerce businesses, with an international presence combining TV content and digital platforms in a way that generates useful synergies. We aim to offer an optimal commercial marketing environment for our own propositions and the products of our advertising customers and to make use of all distribution channels from TV to digital to point of sale. This is what we call our "omnichannel" strategy.
It means that we integrate entertainment offerings and settings for products even more closely. Television financed by advertising remains our core business. TV business contributes over 70 percent of our operating profit. Eight or nine year ago, however, we began to diversify our revenue sources. We leverage our extensive reach in TV and on digital platforms to incorporate commerce investments and attractive business models into our portfolio. This involves the group marketing these products through its TV broadcasters and accelerating their growth with free advertising time. Following the "reach meets ideas" principle, this approach enables us to tap into new market segments and finance growth. Good examples of this include weg.de, Flaconi and the Verivox comparison portal. One of the great advantages of this approach is that we become very familiar with the interests and needs of consumers – that is to say with the customers of our own advertising customers. We know precisely what both sides want and can therefore bring products and users together very effectively.
That's right. ProSiebenSat.1 is both a linear and a non-linear entertainment powerhouse with an associated – and rapidly expanding – commerce business. The two fit hand in glove and we reap the benefits of the resulting synergies. This makes ProSiebenSat.1 the first media group consistently to implement the combination of linear TV, content production, digital entertainment offerings and e-commerce.
We are the first media company in the DAX and are attracting much greater attention in the capital market. This is something for which we had taken good time to prepare. Joining the DAX has made no significant difference to our day-to-day operations though: our primary objective remains sustainable and profitable growth in a fast-evolving competitive environment. We operate in an ever more global market alongside players like Facebook, Google and Amazon. The key here for ProSiebenSat.1 is to make the most of our strengths in our home market.
When it comes to corporate banking, we intentionally follow a primarily local, pan-European commercial banking strategy. You will find no US investment banks among our lenders, for example. However fast-moving our markets might be, our preference in banking is for long-term collaboration. The Anglo-Saxon approach differs markedly from our idea of banking and long-term partnership. Working together as genuine partners in a relationship built on mutual trust is key from our point of view. Speed, realism and an eye for profit are also critical, of course, and fortunately in Helaba we have a partner that meets all of these requirements.
I have to say that for me, corporate banking has always been a people business and nothing has changed in that. Many of the financial products and solutions that we need are specifically tailored to our requirements, a situation that presupposes intensive dialogue with the bank's relationship manager. It is quite clear though that more and more in the area of standard products and back office functions can safely be digitalised and automated. Banks too need to have an efficient cost base. We as a corporate customer, however, depend absolutely on having direct personal access to our contacts at Helaba. This is important for the success of individual projects and for teamwork in general.
The revenue (in euros) that ProSiebenSat.1
aims to achieve in 2018.