Good for Business, Latvia, Markets and Companies, Technology, Telecomunications

The LTV administration noted in its annual port that when analyzing and interpreting the broadcaster’s performance results it is necessary to bear in mind that maximizing profit is not LTV’s main objective. By successfully competing in the advertising, rental and other commercial services markets, LTV managed to make extra revenue, boosting its financial stability and increasing opportunities to invest in long-term projects.

The costs related to content production increased last year while sales-related expenses decreased, the LTV administration said. At the same time, administrative costs rose due to more expensive IT maintenance and higher membership fees.

Reaching younger through linear television represented a challenge in 2017 as the popularity of video on demand continued to grow in Latvia and the rest of Europe. Development was also driven by demand for more sophisticated technological solutions and higher TV content standards.

In 2016, Latvian Television turned over EUR 17.672 million, up 0.01% against a year before, while its loss shrank to EUR 7,447.

Latvian Television, established in 1992, has a share capital of EUR 4.837 million. LTV functions as a public electronic broadcaster producing a wide range of programs for its two TV channels, LTV1 and LTV2, as well as lsm.lv website and social networks.