Thai broadcaster MCOT’s losses have soared more than 2,600% for the first three months of this year.

Reporting Q1 earnings, the company said its net loss was THB878 million/US$28 million, compared to THB32 million/US$1.03 million in the first quarter of last year.

Television revenue dropped 35% to THB111 million/US$3.6 million for the three months.

In Q1 2020, MCOT’s overall revenue was THB467 million/US$15 million, a 21% decrease from the same period last year.

New business – mostly digital – revenue was THB4 million/US$2.7 million, a 56% drop.