According to data on the financial status of broadcasting companies for the 2023 fiscal year released by the Korea Communications Commission on the 19th, the total revenue of the broadcasting industry last year decreased for the first time in 10 years. The total revenue of the broadcasting industry last year was estimated at 18 trillion 973.4 billion won, a decrease of 9 billion 403 billion won (4.7%) from the previous year.
In particular, terrestrial broadcasting saw the largest decrease in revenue with a 10.2% decline compared to the previous year. Home shopping PP, general PP, and CP, excluding IPTV, all experienced a drop in revenue as well.
Last year, broadcasting advertising revenue also hit a record low with 2 trillion 498.3 billion won, a decrease of 5 billion 847 billion won (19.0%) compared to the previous year. The market share of terrestrial broadcasting advertising fell from 57.4% in 2014 to 37.1% last year, while PP’s market share increased from 37.1% to 54.4% over the same period.
The revenue from program sales of broadcasting companies decreased by 520 billion won (2.5%) last year, totaling 2 trillion 457 billion won. On the other hand, program production costs increased by 390 billion won (0.7%) compared to the previous year.
Due to the decrease in revenue and increase in costs, the operating profit of all broadcasting companies last year was estimated at 3 trillion 5 billion won, a decrease of 8 billion 177 billion won (21.4%) from the previous year.