Podgorica, (MINA) – Last year, the Montenegrin media outlets generated revenues of EUR 52 million, with more than half of that amount coming from public sources, including the state and municipalities, the research conducted by the Media Trade Union of Montenegro (SMCG) has demonstrated.

The research revealed that 2,000 employees work for the Montenegrin media outlets, of which only a little more than 800 work in private media.

According to research data, the total net profit of the Montenegrin media was just over EUR 1.2 million – significantly higher than during the pandemic 2022, when profits were just over EUR 50,000.

“The Public Broadcaster, Radio and Television of Montenegro, had the highest income and the best business result, receiving EUR 19.5 million from the national budget”, the announcement stated.

They stated that the worst performance was achieved by private televisions, which, although they had a collective revenue of EUR 9.2 million, ended the year with nearly EUR 923,000 in losses.

According to the press release, the research indicated that budget allocations, as well as various types of donations, grants and subsidies, were the main source of funding for state and local public media, while it also underscored the challenges of the Montenegro’s media market, where the remaining private media outlets had to fight for a share of the limited financial market.