TV stations’ loss (6 main national broadcasters) increased by GEL 61 million, or 73%, in 2023, reaching a record GEL 145 million, - according to the financial report published by TV stations.
Imedi TV ranks the first place in terms of both, advertising revenue and loss volume, which had an income of GEL 32 million in 2023, although the channel’s salary expenses alone amounted to GEL 34 million, operating expenses to GEL 16 million, financial expenses to GEL 22 million, and depreciation expenses to GEL 12 million, as a result of which the television station suffered a loss of GEL 53.2 million. In addition, the channel has loan obligations of GEL 323 million, and the channel’s accumulated and unpaid losses over the years amounted to GEL 388 million.
In second place in terms of revenue is JSC “Media Holding”, which broadcasts under the name “Rustavi 2”. The channel had a revenue of GEL 14.3 million last year, but payroll expenses alone amounted to GEL 26.2 million, administrative expenses were GEL 16 million, and financial expenses were GEL 3 million. As a result, “Rustavi 2” lost GEL 31 million in 2023. In addition, the channel has liabilities of GEL 80.6 million, and accumulated and uncovered losses over the years amount to GEL 72.2 million.
The reason for the loss is the fact that from year to year the advertising revenues of the channels significantly fall short of their total expenses, which are related to the production of news and entertainment programs.
In 2023, the advertising commercial income of 6 broadcasters was GEL 71 million, which was 16% less than the advertising revenues in 2022. The decrease in advertising revenues was one of the factors contributing to the increase in the volume of losses of television stations.
TV Companies By Financial Results For 2023:
TV Imedi
Revenue in 2023 - 32,194,607 GEL, a decrease of 33% compared to the previous year;
Loss in 2023 - 53,293,387 GEL, an increase in losses compared to the previous year by 218%;
Accumulated losses over the years - 388,045,177 GEL.
Rustavi 2 - JSC Media Holding
Revenue in 2023 - 14,288,062 GEL, an increase of 40% compared to the previous year;
Loss in 2023 - 31,002,413 GEL, an increase in losses compared to the previous year by 18%;
Accumulated losses over the years - 72,229,175 GEL.
Main Channel
Revenue in 2023 - 7,757,000 GEL, a decrease of 24% compared to the previous year;
Loss in 2023 - 8,608,000 GEL, a decrease of 16% compared to the previous year;
Accumulated losses over the years - 60,837,000 GEL.
TV Pirveli
Revenue in 2023 - 5,555,877 GEL, a decrease of 12% compared to the previous year;
Loss in 2023 - 3,862,217 GEL, an increase of 14% compared to the previous year;
Accumulated losses over the years - 12,468,633 GEL.
Formula
Revenue in 2023 - 4,765,794 GEL, a decrease of 10% compared to the previous year;
Loss in 2023 - 42,119,306 GEL, an increase in losses of 98% compared to the previous year;
Accumulated losses over the years - 125,629,509 GEL.
PosTV
Revenue in 2023 - 7,489,977 GEL, an increase of 48% compared to the previous year;
Loss in 2023 - 6,788,346 GEL, an increase in losses of 12% compared to the previous year;
Total accumulated losses by the channel - 6,799,946 GEL (unlike other television channels, the channel was at a loss for only one year).
