ATN says revenue decline continues due to piracy and Covid

TORONTO — Asian Television Network International (ATN), Canada’s largest South Asian broadcaster, reported yesterday its consolidated operating revenue for the 12 months ended December 31, 2020 decreased 16% to $10.1 million compared to the previous fiscal year. The company’s subscription revenues decreased 5%, while advertising revenue dropped by 41% in fiscal 2020 compared to the previous year ended December 31, 2019. “The decline of advertising revenues further accelerated primarily due to several temporary closures for businesses impacted by Covid-19 although a steady decline is noticeable from before as well due to declining number of subscribers who continue to migrate to...