Broadcasting Business Revenue Declines for the First Time in 10 Years... Terrestrial Broadcasters Down 10%
KCC Announces Business Operators' Financial Status
Advertising Revenue Declines While Production Costs Increase
Last year, domestic broadcasting business revenue decreased by 4.7% compared to the previous year, marking the first decline in 10 years since 2014.
The Korea Communications Commission announced the financial status of 361 broadcasting operators, including terrestrial broadcasters, pay TV, and broadcasting channel usage business operators (PP), on the 19th.
Total broadcasting business revenue decreased by 4.7% compared to 2022, totaling 18.9734 trillion KRW. Broadcasting business revenue had continuously increased over the past 10 years but declined for the first time this year.
By operator group, terrestrial broadcasters saw the largest decrease, dropping by 10.2%.
Broadcast advertising revenue was recorded at 2.4983 trillion KRW, down 584.7 billion KRW (19.0%) from 2022. This is the lowest figure in broadcast advertising revenue over the past 10 years.
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Program production costs increased by 39 billion KRW (0.7%) compared to the previous year. Due to this cost increase, the operating profit of all broadcasting operators decreased by 817.7 billion KRW (21.4%) from the previous year, amounting to 3.005 trillion KRW.
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