Podgorica, (MINA) – Montenegrin media outlets made a total profit of around EUR 603,000 in 2024, according to the research conducted by the Media Trade Union of Montenegro (SMCG).
The SMCG announced that Montenegrin media outlets generated more than EUR 56.6 million in income last year, while total expenses amounted to slightly over EUR 56 million.
The research analyzed the operations of public and commercial media for the fourth year in a row, and found that 200 media outlets operate in the Montenegrin market, which serves approximately 630,000 media consumers.
“Although total revenues increased compared to the previous year when they amounted to slightly over 52 million, net profit was almost halved, since in 2023 it amounted to around 1.2 million EUR”, the report says.
It is stated that the main reason is the growth in operating costs, which exceeded EUR 56 million last year.
SMCG noted that more than half of the employees, 1,187 of them, work in public media, the Radio Television of Montenegro (RTCG) and 15 local public broadcasters.
“As in previous years, RTCG, which is predominantly financed by the state, made the highest profit. The total revenues of the public broadcaster exceeded EUR 22.7 million, of which as much as EUR 20.5 million comes from the state budget”, said SMCG.
As they stated, RTCG ended the year with a net profit of EUR 1.11 million.
“The print media, which also have their own online news portals, remained stable, with total revenues of EUR 8.9 million, expenses of EUR 8.46 million, and the final profit EUR 447.700”, said the Trade Union.
They said that three out of four print media, with the exception of Pobjeda, operated profitably.
According to SMCG, the weakest results once again came from private televisions, which collectively operated with a loss of EUR 1.47 million, which is about EUR 543,000 worse than the year before.
Of the 14 private TV stations, only five ended the year with a positive result: TV Vijesti, Prva, Teuta, Boin and Wow Montenegro.
The internet media earned close to EUR 3 million, and ended the year with a net profit of over EUR 200,000.
The Media Trade Union said that more than half of all registered media in Montenegro are online publications, of which, according to the estimate of SMCG, there are 120, the majority of which are unregistered.
The SMCG added that the news agencies, but also agencies engaged in media production and content distribution, generated revenues of EUR 735.500, while their expenses amounted to EUR 688,000, and the total profit EUR 47.700.
