TORONTO – Asian Television Network reported ongoing shrinkage in its revenues and expanding losses when it reported its third quarter results today.
ATN brought in $3 millon in revenue in Q3, ended September 30, down 20% compared to the same quarter of 2018. The company reported a $634,000 net loss before taxes, more than double the loss than in the third quarter last year.
“Declining revenues are predominantly as a result of increased internet piracy and consumers shifting towards illegal digital IPTV set-top boxes,” says the company’s press release. “While the company is actively involved in fighting this negative trend, as part of a recent Federal Court decision, the court issued the first Canadian site blocking order against sites that predominantly facilitate copyright infringement. This marks a significant step in the right direction towards Canada's fight against piracy.”
