TV Globo is, in fact, the richest broadcaster in Brazil and popular with families. It is no wonder that it is among the first placed among the networks of television From Latin America; however, due to the country's financial crisis, it has been greatly affected. This has caused some damage to the most watched broadcaster in Brazil. See why.
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Understand the damage caused to Rede Globo
We are talking about a Brazilian commercial television network that was founded in 1965 and has become a historic landmark in the country's media and communication.
The beginning of it was marked by the transmission of the first television news on national network, transmissions via satellite, the transition from black and white to color transmission, the creation of telenovelas and much more. With the advance, came series, films, Globo Repórter and other novelties.
Of course, in the face of the development of technology, other means of communication and entertainment have also emerged. From then on, people started to leave the TV a little aside. The popularization of the internet and the vast catalogs of streams certainly contributed to causing the decrease in the station's ratings.
The company lost about 70% of its value, which increased its debts, which are calculated in dollars.
With the aim of expanding its business and thus maintaining it, Globo decided to promote pay-TV channels, so they launched Globo.com and the streaming GloboPlay. Unfortunately, what can be seen is that, even with these investments, the team continues to experience some difficulties.
What is the cause of Rede Globo's loss of money?
It is important to point out that the issuer still has a solid cash position in reais, but that its debt is calculated in dollars, so this difference had a huge impact on the balance sheet. With the devaluation of the real, there was a reversal of profit to loss in a short period of time.
Therefore, it can be said that the drop in our currency is the main factor that caused losses to the issuer.
