News Profits Continue to Drop at Japanese Channel WOWOW (Update 2)
posted on 2008-09-27 05:21 EDT
Wowow, the premium satellite channel which has been a main venue for Afro Samurai, Cowboy Bebop. Paranoia Agent, and other anime aimed at older audiences, reported on September 25 that it expects its profits to fall sharply in the fiscal year from April 2008 to March 2009. A decrease of 39% to US$19.8 million (2.1 billion yen) in overall profits and a 45% drop in operating profits to US$28.3 million (3 billion yen) is expected. Wowow executives are also estimating a two-percent increase in total revenues from subscriptions and advertising sales, to 66.7 billion yen (US$629 million). WOWOW's executives claim that the general weakness of the dollar against the yen is the major reason for the shortfall.
Source: Rapid TV News
Update: The company executives are expecting a two-percent increase in revenue, not a loss. Thanks, Dragonxtc.
Update 2: According to Nikkei, the general weakness of the dollar against the yen lowered the profit drop, not increased it as Rapid TV News reported. Thanks, zetubouzinsei.
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