According to a statement from the broadcaster, of this total, 64% came from advertising
Globo reached net revenue of R$3.7 billion in the first quarter of 2024, a historic record in ten years, with R$2.3 billion coming from advertising, which corresponds to 62% of this amount.
As a result, the company recorded an EBITDA of R$812 million, a level that had not been reached since 2016. Total net revenue grew by 12% (R$382 million) compared to the same period last year.
The first quarter numbers reinforce the consolidation of Globo’s strategy, which combines revenue diversification with continued cost discipline, and highlight the relevance and complementarity of each of its business fronts.
Open TV continues to be the engine to boost the performance of closed channels and digital channels. The greatest example of this complementarity is BBB, which had the largest audience for a program final on TV Globo since 2021 and grew numbers on all other platforms.
In streaming, Globoplay showed a 23% increase in the subscriber base when compared to the first quarter of last year. Globo also reported that the company’s cash position reached the end of the quarter with growth of 3% compared to 1Q23, while the debt position decreased by 2%, totaling R$5.2 billion.
Em 2023
Globo Comunicação e Participações (GCP) ended 2023 with more than R$800 million in profit, as shown in the company’s financial statement released last March.
According to information presented by GCP, 63% of the company’s total revenue corresponds to advertising, which had an increase of 2% between one year and the next, and the other 37% is about content, which had a reduction of 6% caused by downward trend in pay TV, offset by the growth of digital businesses.
(Credit: Globo/ Manoella Mello/ Disclosure)
