Tuesday June 25, 2019

Sri Lanka's state TV revenues contract, losses widen in 2016

Jun 27, 2017 08:22 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Revenues at Sri Lanka's state-run Independent Television Network plunged 27 percent in 2016 to 1,885 million rupees, and the state lost 162 million rupees, while revenues at another state networks also dropped but losses narrowed.

At Sri Lanka Rupavahini Corporation, revenues dropped 1.4 percent to 2,115 million rupees and it lost 160 million rupees, lower than a 375 million rupees a year earlier, a Treasury report shows. It is not clear whether revenues dropped due to competition from private networks for advertising.

The report said TV stations should improve programming and increase viewership in the face of competition.

ITN lost 167 million rupees in 2016, compared to a profit of 327 million rupees a year earlier.

ITN, which also operates radio stations, has reported higher profits that Rupavahini in the past.

The Treasury report said ITN had to strengthen its debt recovery system, indicating that the network was unable to collect some of the revenues reported. No details were given on which year's revenues were uncollected.

ITN is also building a high-definition studio. 


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