TORONTO – Asian Television Network (ATN) reported a net income of $200,364 on revenues of $6.2 million for the second quarter ended June 30, 2016.
Consolidated operating revenue declined 3% year-over-year to $6.25 million and profits plunged 57% to $200,364 over the same period in 2015, due primarily to a decline in subscription revenue, caused by consumer pressure for lower retail subscription fees, the introduction to a pick and pay model along with grey and black market infiltration. EBITDA for the quarter was $ 514,061, down 39% from $ 836,271 year-over-year.
Broken down by segment, ATN's subscription revenues for the period dropped 8% to $4.69 million; advertising revenue jumped 20% to $1.40 million; and programming revenue fell 17% to $ 141,892.
A Canadian media company, ATN serves Canada’s diverse cultural communities with 54 premium specialty television channels.
