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New Zealand's TVNZ reports $85M FY loss, seeks cost-cuts and new revenue streams.
New Zealand's state broadcaster, TVNZ, reported a $85M loss for its financial year ending June 30, primarily due to poor economic conditions and a decline in advertising revenue.
The company plans to continue with cost-cutting measures and explore new revenue streams, including a possible entry into the subscription television market, to address a $30M cost gap.
Despite the significant loss, TVNZ's streaming service, TVNZ+, saw a 25% year-on-year increase in viewership, and digital advertising revenue grew 8.2%.
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TVNZ de Nueva Zelanda reporta pérdidas de 85 millones de dólares en el ejercicio económico, busca recortes de costos y nuevas corrientes de ingresos.