In 2020, we as the Executive Board have shown together that we have a clear roadmap for ProSiebenSat.1. We know where our strengths lie: in high-reach entertainment and infotainment on the one hand, and in building consumer-oriented, digital brands on the other. But we also know what to work on. For long-term success, we need to position ourselves in a more diversified way and thus become less dependent on traditional TV advertising revenues. Last year, we achieved a lot in this regard: We opened up a new growth area for us with ParshipMeet Group. We demonstrated how well we can build brands with our reach – the online beauty shop Flaconi is certainly a good example, with an increase in revenues of almost 50 percent. And finally, with our new three segment structure, we have laid a sustainable foundation for 2021 and beyond. Despite COVID-19, we clearly moved forward in 2020. At ProSiebenSat.1, we all pulled together as a team. That is something that cannot be taken for granted in such a challenging phase.
From our formerly four pillars Seven.One Entertainment Group, Red Arrow Studios, ParshipMeet Group and NuCom Group, we have built the three strong segments Entertainment, Dating and Commerce & Ventures. Why? To highlight even more clearly the synergies within and between our businesses. Our Red Arrow production business is now part of Entertainment – this segment covers the entire value chain, from content production to its distribution on our own linear and digital channels or on third-party platforms, to sales. We have bundled our commerce business with our minority investments of SevenVentures in the new Commerce & Ventures segment. Here, we now show the full range of our investment forms – from seed and venture financing to media-for-revenue or -equity deals to majority investments. This is important because we want to actively develop our portfolio across the whole Group. This includes acquisitions, such as most recently of the US dating group The Meet Group, as well as disposals, such as of WindStar Medical last year. Our portfolio management goes in both directions as long as we create value.
Dating is core to our strategy. In 2020, we have combined The Meet Group with our Parship Group, creating a leading global player in the dating market. Our Dating segment around the new ParshipMeet Group will significantly support our future growth. Also, the business is highly profitable. We see enormous economic potential in the union of dating, video and entertainment, which we intend to develop together in the Group in the long term.