Chile's FTA losses increase 30-fold
Juan Fernandez Gonzalez
| 04 June 2014
Chile's main free-to-air (FTA) networks have seen their profits fall by nearly $5 million during Q1 2014.

Compared to last year, the recorded losses have increased 30-fold, causing alarm bells to ring.

According to figures from the country's telecoms agency Anatel, Mega has seen the biggest fall at $2.3 million since the year started, although, according to the company, this is due to increased costs increasing and currency fluctuations.

Canal 13 closed Q1 with $3.2 million profits a year ago, but by the end of March 2014, the network had lost over $1.5 million. According to Anatel, investment in schedule diversification has burdened the channel's growth, although increased expenses and currency fluctuations are also behind the fall.

La Red (down $0.9 million), UCV TV (down $130,000), and TVN (down $60,000) are also contributing to the overall fall in profits.

CHV has not reported its quarterly results yet, although in 2013 it reported a $6.5 million fall, so is expected to report another loss.