Television broadcasters post €19.3 million in profits in 2018

NEWS 20.11.2019 11:53

Croatia's television broadcasters reported a total profit of 143.3 million kuna (€19.3 million) in 2018, with more than half of the sum, 81.3 million kuna (€11 million) earned by state television HRT, the state's Financial Agency (Fina) said on Wednesday, in a report marking World Television Day on November 21.

In 2018, there were 52 companies broadcasting television programmes with 3,794 employees, their total revenues amounting to HRK 2.3 billion, up 2.3% from the previous year.

Their expenditure was HRK 2.1 billion, 0.6% more than in 2017, and they earned HRK 143.3 million in net profit, 7.8% more than in 2017.

Thirty-four broadcasters operated at a profit of HRK 155.5 million, an increase of 4.8%, while 18 incurred HRK 12.2 million in losses, a drop of 21.3% compared to 2017.

The average monthly net salary in those companies in 2018 was HRK 7,295, 1.6% lower than in 2017 and 30.6% higher than the average monthly wage in all companies in Croatia, which totalled HRK 5,584.

The sector leader was Croatian Radio and Television (HRT), with a total revenue of close to 1.4 billion kuna, which accounts for 59.5% of television broadcasters’ total revenues. The HRT also earned the highest profit, of HRK 81.3 million, and had the most employees, 2,741, whose average net wage was HRK 7,181.

Nova TV was second in terms of the number of employees – 324, with a total revenue of HRK 418.7 and a net profit of HRK 51.9 million. Nova TV is followed by RTL Hrvatska, which in 2018 employed 265 people. Its total revenue amounted to HRK 342.6 million and its profit to HRK 13.4 million.

Unlike the 2008-2012 period, when television broadcasters operated at a net loss, which in 2012 amounted to as much as HRK 169.2 million, in the 2013-2018 period positive results were achieved, and the highest net profit was recorded in 2018, according to the FINA analysis.

(€1 = HRK 7.433)