VGTV has lost 160 million in two years – NRK

VGTV was founded in 2007 and spun off as a separate company in 2013. In 2014 began VGTV with linear broadcasts as well as broadcasts on network television.

The time announces media company that focus on TV should be lifted radically, but now the losses become so great that the company has requested extended credit in the group, writes Dagens Næringsliv.

Struggling to reach earnings

Chief Editor and CEO of VG, Torry Pedersen says to NRK that the deficit is greater than expected, but that it is not appropriate to lay down the canal.

– but we must naturally deliver better results over time . It has hopeful that we will be able to do. It is not uncommon for startups in deficit during the establishment phase, says Pedersen.

VGTV are held by Schibsted. Earlier this year, several of Schibsted editors cut in staffing. 40 employees were cut in VG, and in Bergens Tidende, 30 of 130 editorial staff removed.

– How big losses withstand Schibsted?

– Both Schibsted and VG goes with good profits. The point is that we need to deliver better results over time, and we’re going to do, says Pedersen.

The most important choice to achieve this, according to Pedersen, to increase revenue.

– reducing costs is barely easier than raising revenue. But there is increased income that could create lasting, good business, he said.

Taper Web

According to Pedersen, it is primarily the digital web TV initiative that costs money.

– we must adjust our cost base, but it is still the case that we think revenues will come increasingly to web tV, Pedersen says to Dagens Næringsliv.

especially Facebook and Google that takes substantial revenues in the advertising market, according to Pedersen.

– and then NRK and TV2 are major competitors on live images digitally, says Pedersen told NRK.