TV Globo?s financial performance in 2002 improved year over year, according to financial statements published last week. Revenue totaled 3 billion Brazilian Reals, up from 2.77bn in 2001. Net of commissions and other ad agency payments, revenue amounted to 2.55bn BRL 2002.
Net income was 220m BRL, up from 156m BRL in 2001.
The main items of expenditure were Production (1.53bn BRL), Sales (314.6m BRL), and rights to World Cup soccer matches (243.5m BRL).
The report also states that TV Globo covers 99.9% of Brazil with its own signal and those of 110 affiliates. That corresponds to 41 million TV homes.
The network broadcast 4,000 hours of programming in 2002, with in-house productions accounting for 70%. According to the report, a full 100% of the network?s prime-time content is produced by TV Globo itself. Average audience share rose to 55% in the year.
The report also highlights agreements with delinquent advertisers, citing the case of Santander. The bank ended the year owing more than 20m BRL, according to the report.
A somewhat different agreement was concluded with TIM Brazil, formerly a shareholder in the group?s portal, Globo.com. Globo repurchased TIM?s stake of almost 30% for 34.5 million euros, payable not in cash but in exchange for free advertising until 2005. TIM undertook not to stop investing in additional media time during the period. It?s interesting to recall that in 2000 Telecom Italia paid 810m USD for its 30% stake in Globo.com.
The return from sick leave of Marluce Dias da Silva, managing director of TV Globo, is scheduled for next week. She will meet with other network executives. She hasn?t stopped meeting with colleagues even while off work but will now definitively reassume her post.