RTE'S dire 2011 results, which show that after-tax losses almost quadrupled to €16.8m, show how bleak the Irish media landscape has become. RTE has been devastated by a fall-off in income, mainly advertising, which fell by nearly one-third to €167m between 2007 and 2011.
And Thomas Crosbie Holdings, publisher of the Irish Examiner and The Sunday Business Post, is seeking to restructure its debts. The group owes its banks €28m. The Irish Times (yet to publish 2011 results) recorded a profit of €2.1m in 2010 after racking up €28.3m losses in 2009.
Only one major Irish media firm has remained consistently profitable throughout the downturn. That is INM, publishers of this newspaper.
In 2011, INM's Irish operations recorded operating (pre-interest) profits of €47.4m on its Irish publishing operations.
None of the Indo competitors can match this level of performance; they don't even come close.