21-07-2008

Lithuanian Radio and TV posts profits for 2007

By Aukse Kancereviciute

    Public broadcaster Lithuanian National Radio and Television (LRT, www.lrt.lt ) reported net profits of LTL2,947 million (854,000 Euros) for 2007, compared with losses of 361,000 Euros in 2006.

    LRT, which operates two national television and three radio channels, receives about 75% of its funding from the Lithuanian government. LRT joined the European Broadcasting Union (EBU) in 1993.

    Income last year, not including funding from the state budget and EU funding, was 9 million Euros, a 25,6 % increase over 2006.

    Although predominantly government financed, LRT does sell advertising. Advertising accounted for the largest portion of income last yeara; it was 7.7 million Euros, 26,4 % more than in 2006. Income from broadcasting was 417,000 Euros; rental income was 419,000 Euros.

    The budget of LRT is projected to ncrease to 24.7 million Euros this year, with commercial income rising to 10.2 million Euros.

    Funding from the Lithuanian government was 14 million Euros last year, 14.1% more than in 2006. Financing from EU funded projects was 618,000 Euros; financing from the governmental budget to acquire long-term capital was 434,000 Euros.

    Published in Lithuania
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