ATN losses grow as competition heats up

TORONTO - Asian Television Network (ATN) last week reported a net loss of $1.5 million for 2018, a much larger loss compared to 2017, on revenues of $14.83 million for the full year ended December 31, 2018. Operating revenue fell 26% year-over-year, which the broadcaster said is due to a decline in subscription revenue, caused by consumer pressure for lower retail subscription fees. Net loss in 2017 was $164,000“During 2016 to 2018, the company continued to experience declining revenues from consumers shift towards digital and on-line media consumption along with illegal IPTV set top boxes," reads ATN’s filings. “Additionally, a number...