For the first time since 2009, Spanish public broadcaster RTVE, operator of La 1 and La 2 among other channels, has climbed out of the red with a profit of €800,000.

“It is the first time we end a year with no deficit since 2009,” commented José Antonio Sánchez, the president of the group, who acknowledged that cutting costs has been the key. In 2009, costs amounted to €280 million compared to €183 million for 2016.

Telcos contributed to financing the group with €123 million, followed by FTA TV operators with €50.2 million and pay-TV operators with €16.4 million.

Categories: Articles, Broadcast, Business, Results