Network Media Group Faces Revenue Dip

Network Media (TSE:NTE) has released an update.

Network Media Group has reported a challenging fiscal year for 2023, with revenues dropping to $7.1 million from the previous year’s $12.4 million and swinging to a net loss of $320,937 from a net profit in 2022. Despite the setbacks, the company emerged with a substantial backlog of $22.7 million in contracted productions, positioning it for potential growth in the entertainment industry. Network also highlighted strategic restructuring efforts and a pipeline of new projects aimed at enhancing shareholder value.

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