Television Broadcasters Earn 143.3 Million Kuna in Profit

Total Croatia News

ZAGREB, November 20, 2019 – The total profit of television broadcasters in 2018 was 143.3 million kuna, shows an analysis conducted by the Financial Agency (FINA) on the occasion of World Television Day, November 21.

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

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

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

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

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 81.3 million kuna, and had the most employees, 2,741, whose average net wage was 7,181 kuna.

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

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

More news about media in Croatia can be found in the Business section.


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