ATN blames Internet piracy, illegal media, for Q1 losses

TORONTO - Asian Television Network (ATN) reported a net loss of $256,024 on revenues of $4.21 million for the first quarter ended March 31, 2018.Operating revenue fell 19% year-over-year, essentially due to declining subscription revenue, while the 11% increase in net loss is due mainly to the drop in revenues and operational cost remaining relatively the same.“The most significant variances in the consolidated results between the three months period ended March 31, 2018 and March 31, 2017 is a 19% decline in operating revenue and a 11% increase in net loss for the period”, ATN said in its filings. “The...