The Arena Channels group increased its loss to 13 billion dinars.
Arena Channels Group ended the year 2024 in the red, with a loss greater by five billion dinars compared to 2023.
The net loss of the Arena Channels group, fully owned by Telekom Srbija, in 2024 amounted to 13,010,471,000 dinars, an increase compared to 2023 when a net loss of 7,917,757,000 dinars was recorded, according to financial reports published by the APR.
Debts of Arena
Last year, the Arena Channels group concluded with long-term liabilities of 2.9 billion dinars.
Of this amount, 6.3 million dinars pertains to lease obligations, 799.37 million dinars to long-term obligations to Telekom Srbija for TV rights, while other long-term obligations amount to as much as 2.1 billion dinars.
“Of the total other long-term obligations, obligations amounting to 2,141,064,000 dinars as of December 31, 2024 (which amounted to 865.57 million dinars in 2023) relate to obligations to the affiliated company 'MTEL' Switzerland for acquired TV rights for broadcasting sports events in the amount of 436,758,000 dinars, obligations to third legal entities for contracted content of TV channels in the amount of 1,639,164,000 dinars, and obligations based on contracted long-term leasing in the amount of 65,142,000 dinars,” states the Notes to the financial statements.
Regarding financial obligations, they increased over the year from 21.4 billion dinars to over 35 billion dinars.
| Short-term loans from Telekom Obligations amounting to 1,757,245,000 dinars as of December 31, 2024 (which amounted to 1,593,821,000 dinars in 2023) primarily relate to obligations to the parent company Telekom Srbija for acquired TV rights for broadcasting sports events and channels, as stated in the documentation. |
Customer Debts to Arena
The receivables of the Arena Channels group from sales at the end of December 2024 amounted to 1.8 billion dinars.
“Gross receivables from other customers in the country as of December 31, 2024, amount to 675.5 million dinars and primarily relate to the following customers: Digitam Media Network in the amount of 168 million dinars, Media Pool in the amount of 36.3 million dinars, Balkan Bet in the amount of 18.7 million dinars, QWP MEDIA in the amount of 12.7 million dinars,” is stated in Arena's financial statements.
As for gross receivables from other customers abroad as of December 31, 2024, they amounted to 490.86 million dinars and primarily relate to the following customers: Artmotion SHPK in the amount of 333.95 million dinars, Macedonian Radio TV 36.6 million dinars, and TDR Robi DOOEL in the amount of 16.87 million dinars.
Establishment of a New Company
By the decision of the District Court in Ljubljana on February 26, 2024, the Arena Channels group acquired one hundred percent ownership of the affiliated company Arena Sport, Television Activity d.o.o. Ljubljana, as stated in the Notes to the financial statements for 2024.
“By the decision of the Business Registers Agency on March 13, 2024, the company established a subsidiary Arena News Channels Two d.o.o. Belgrade, whose primary activity is the production and broadcasting of television programs,” is stated in the documentation.
As of December 31, 2024, this company employed 190 workers under employment contracts (December 31, 2023: 166 workers) and 338 engaged persons under copyright agreements (December 31, 2023: 301).
Source: N1
