TORONTO – Asian Television Network (ATN) reported a net income of $202,081 on revenues of $5.21 million for the second quarter ended June 20, 2017.
Operating revenue fell 17% year-over-year, a direct result of continued infiltration of Internet piracy and consumers shifting mostly towards illegal digital and online media, ATN said. Net profits inched up 1% over the same period in 2016, which the broadcaster attributed to the impact of “a change in circumstances that required the estimate of various programming costs to be revised” that was recorded in this quarter.
EBITDA for the quarter was $653,090, up 27% from $514,061 year-over-year.
Broken down by segment, ATN's subscription revenues for the period dropped 18% to $3.84 million; advertising revenue fell 12% to $1.23 million; and programming revenue declined 17% to $117,466.
ATN serves Canada’s diverse cultural communities with 55 premium specialty television channels.
