Will you go bankrupt? Globo raises R$3.7 billion in the first quarter of 2024 and records the highest profit since 2016

Will you go bankrupt?  Globo raises R$3.7 billion in the first quarter of 2024 and records the highest profit since 2016

Globo generated revenues of R$3.7 billion in the first quarter of 2024 alone, reaching a level the company had not surpassed since 2016. The person largely responsible for the financial success of the Marinho radio station was Big Brother Brazilin its twenty-fourth edition.

The information regarding the group was released in an internal message sent on Monday the 27th and issued to F5 on Tuesday the 28th. The document shows that Globo achieved the best EBITDA (earnings before interest, taxes, depreciation and amortization in Portuguese). : EBITDA (earnings before interest, taxes, depreciation and amortisation) since 2016.

The media company currently has signed contracts worth R$2.33 billion between January and March of this year, which was inflated by the reality show's audience.

As reported by F5, Paolo Marinho, CEO of the radio, confirms that the reality show and TV commercial were essential to the above expected performance. Marinho informed that the program is led by… Tadeo Schmidt It emerged as the largest audience for the show's final since 2021, the year singer Juliette won.

Other streaming services have also seen significant growth. Subscriptions to Globoplay, the company's live streaming platform, rose 23%.

In total, Rede Globo's revenues grew by 12% in 2024 compared to the previous year, totaling R$3.7 billion. Final EBITDA resulted in R$812 million.

The broadcaster's income does not stop there, and the administration hopes to increase its profits from football in the next semester. This year it is expected to rise further with sporting events, such as the Copa America and the European Cup, scheduled to be held in June.

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About the Author: Osmond Blake

"Web geek. Wannabe thinker. Reader. Freelance travel evangelist. Pop culture aficionado. Certified music scholar."

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