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TVNZ Faces Financial Loss and Plans Cost Cuts Amid Digital Shift

TVNZ Faces Financial Loss and Plans Cost Cuts Amid Digital Shift

TVNZ reported a first half-year loss due to decreased revenue and asset write-downs, with a 13.5% drop in total revenue to $155.9 million and a net l

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TVNZ reported a first half-year loss due to decreased revenue and asset write-downs, with a 13.5% drop in total revenue to $155.9 million and a net loss of $16.8 million. The decline in advertising revenue by 14% to $147 million was a key factor, despite cuts in operating expenses and program spending. The broadcaster plans further cost-cutting and a faster digital transition in response to ongoing economic challenges and competition from global streaming services. This announcement follows Newshub’s closure news, highlighting the media industry’s struggles against international giants.

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