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Inflation cost TVN $1.526 billion in the first quarter as Ormue and Vina costs increased

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TVN’s cost of sales and administrative expenses increased by 44.1% in line with CPI fluctuations. He said recovering losses recorded in the first quarter of 2023 would help maintain financial and economic stability.

The Chilean National Television Network (TVN) reported its results for the first quarter of 2023).

During this period, the state-owned channel claimed that its total revenue increased by 8.6% compared to the same period in 2022, amounting to $1.052 billion.

However, CPI fluctuations have had an impact. The Ormue Festival and Viña Festival also increased cost of goods sold and administrative expenses by $4.577 billion, up 44.1% year-on-year.

“While this resulted in a negative result of $1.526 billion over the same period, TVN expects to reverse this negative for the rest of the year and is already working on content generation across multiple platforms. ’ said the report.

He said reversing the numbers would help maintain financial and economic stability. Establish yourself as a “public media group”.

Today, the channel consists of digital platforms such as main signal, regional center, international signal (TV Chile), family cultural channel (NTV), TVN Play application and cable’s Canal 24 Horas.

Finally, he emphasized that he had “successfully” broadcasted the revival of the Ormue and Viña del Mar festivals in the first quarter and led accordingly. In particular, he emphasized that he broadcast related premieres such as ‘Los Secretos del Caso Matute’, ‘Chile 50’, ‘Adptados’ and ‘Alma Negra’.

Source: Biobiochile

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