Radio / Television News

ATN says OTT, online options, to blame for 70% drop in 2016 profits

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TORONTO – Asian Television Network (ATN) reported a net income of $58,524 on revenues of $5.81 million for the fourth quarter ended December 31, 2016.

Operating revenue fell 15% year-over-year, while net profits plunged 122% over the same period in 2015, which the broadcaster attributed to declining subscription revenues and advertising revenues.  EBITDA for the quarter was $402,166, down 58% from $963,003 year-over-year.

Broken down by segment, ATN's subscription revenues for the period dropped 17% to $4.10 million; advertising revenue fell 14% to $1.46 million; and programming revenue climbed 22% to $231,653.

For the 12 month period, the South Asian broadcaster posted a net income of $565,084 on revenues of $24.0 million, which was down 70% and 8%, respectively, from the prior year, while EBITDA fell 47% to $1.80 million from $3.37 million.  The company said that it continued to experience declining revenues as a result of consumers’ shift towards digital and on-line media consumption.

ATN serves Canada’s diverse cultural communities with 55 premium specialty television channels.

www.asiantelevision.com