TORONTO — Canada’s largest South Asian broadcaster, Asian Television Network International, again blamed Internet piracy and consumer use of illegal IPTV set-top boxes for its declining revenues when the company reported its first-quarter 2020 financial results Tuesday night.
For the three months ended March 31, 2020, ATN’s operating revenue was approximately $2.4 million, down from $3.2 million in the first quarter of 2019. Total operating expenses for Q1 2020 were $3.1 million, an improvement over the $3.8 million in operating expenses the company reported in Q1 2019. However, ATN’s net loss for the first quarter of 2020 was $677,547, 60% larger than the net loss it reported in the first quarter of 2019.
“Declining revenues are predominantly as a result of increased internet piracy, consumers shifting towards illegal digital IPTV set-top boxes and declining advertising revenues. While the company is actively involved in fighting this negative trend, the court issued the first Canadian site blocking order against sites that predominantly facilitate copyright infringement. This marks a significant step in the right direction towards Canada’s fight against piracy,” reads the news release.
ATN is a Canadian media company serving the country’s diverse cultural communities with more than 50 specialty TV channels.
