Radio Jamaica Limited is reporting a loss of $167.48 million in its first quarter ended June 2024.
The company, which also does business as the RJRGLEANER Communications Group, says in the comparative period ended June 2023, it made a loss of $37.85 million.
Radio Jamaica says this was linked to higher overall expenses and lower other income.
The company's revenue was $1.2 billion for April to June 2024, compared to the $1.29 billion made in the similar period last year.
Lower advertising spend contributed to the roughly $94 million drop in revenues, with inflows from audio/visual, which includes Television, down $37 million.
Income from radio and print also declined.
Radio Jamaica says it has a five-point plan it hopes will help to turn around its losses.
This includes the rollout of Next Gen TV, which will add new advertising streams, along with the deployment of set top boxes.
The group is also looking to boost income from its real estate holdings.
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