The balance of the network accounts was disclosed in an internal statement to employees and published by the portal UOL on Tuesday (28).
Last year, the broadcaster lost R$41 million (US$8 million).
In 2021, the accounts were also negative: R$121 million (US$23.8 million).
Among other points, the executives highlighted in the statement that Globo’s expenses increased over the past year.
Despite the cuts and several layoffs promoted in 2022, the station’s costs grew by R$660 million.
In the statement, Globo signaled that the changes should continue.
“A scenario that requires a performance even more connected with our goals of leading the company to a solid and sustainable future, revisiting costs, adopting new practices, and making assertive decisions aligned with our strategy,” said Paulo Marinho, CEO of the group.
The executive also explained that “this exercise needs to be continuous and is necessary for this and the coming years.
The costs of the World Cup weighed for Globo.
The broadcasting rights deal, closed before the pandemic, negatively influenced the accounts and “consumed the accumulated results” over the past year.
The network also lost money with the drop in subscribers on pay TV: about R$40 million.
However, the growth of digital channels mitigated this loss.
Despite the negative balance, the company reported an 8% increase in advertising revenue last year compared to 2021.
The group earned R$9.1 billion with ads.
According to the Globo group, the year 2022 was closed with net revenue of R$15.1 billion – up 4%.
With information from Revista Oeste