THE sustainability of traditional broadcasting is under immense pressure, said Fiji Television Ltd chairman Nesbitt Hazelman in his message to shareholders in the company’s 2025 annual report, released this week at the South Pacific Stock Exchange (SPX) as the company reported yet another loss-making year and double-digit revenue decline.
“Fiji Television continues to demonstrate resilience and adaptability as it navigates the most transformative period in its three decades of existence,” Mr Hazelman said.
“The media landscape has evolved dramatically since Fiji TV first went on air.
“What began as a single-operator environment has now become a highly competitive and fragmented market intensified by the entry of government-backed operations and the rise of unregulated international and social media platforms that compete directly for both audiences and advertising dollars.
“The sustainability of traditional broadcasting is under immense pressure.
“The migration of advertising revenue from conventional television to digital platforms has been swift and significant.
“Against this backdrop, Fiji TV’s performance for the year reflects the broader market challenges.
“Revenue declined by 34per cent, closing at $4.01 million, while the company recorded an operating loss of $952,313,” Mr Hazelman said.
A victim of the last Government’s policy changes that directly affected its operations, Fiji TV has been struggling to return to break even since it was forced to sell off profitable business arms such as its Papua New Guinea subsidiary Media New Guinea Ltd sale to Telikom PNG in 2014 and the unbundling of its operations in 2015, which subsequently led to the sell off of its subscription-based satellite television service Sky Pacific to Digicel Fiji that year.
Over the last five years, FTV has reported net loss after tax of $2.7million in 2020, a loss of $2.3m in 2021, a loss of $480,000 in 2022, a profit of $421,000 in 2023 and a loss of $304,676 last year, according to SPX market data.
It is also the only company listed on SPX with a negative Earnings per Share (EPS) and Price to Earnings ratio (P/E ratio) reflecting its difficult financial position.
In June this year, FTV shares hit its lowest in five years when its shares changed hand at 75 cents a share.
In his message in the latest annual report, Mr Hazelman said in recognition of structural shifts, the company board has made “a conscious decision this year to pause, reflect, and redefine Fiji TV’s strategic direction.”
“Together with management, we undertook a comprehensive review of our business fundamentals — how we operate, where our value lies, and what must be done to ensure long-term sustainability,” he said, adding that the board has approved “a forward-looking Technology Roadmap designed to modernise Fiji TV’s technical infrastructure over the next 12 to 18 months.”
Fiji TV shares last traded at 75cents a share when this edition went to press.
