TTT received $12m subsidy, earned $10m

COMMUNICATIONS Minister Stuart Young has reported that Trinidad and Tobago Television (TTT) has received a total subvention of $12.1 million and has earned $10.5 million in revenue since it was launched last year.

He was responding to a question in the House on Wednesday on the quantum of the government subsidy to TTT since its launch on August 30, 2018 to April 30, 2019.

Young said the revenue of $10.5 million excluded the subsidy and included airtime, production, transmittal rental, interactive media and contra arrangements (things in kind/services).

He reported the value of the monthly rental arrangements between the National Lotteries Control Board and TTT, a production and airtime agreement, was $450,000. He also reported that the Water and Sewerage Authority is not a sponsor of any programming on TTT.

TTT, which was the name of this country’s first television station, was launched after the Government decided to wind up state-owned CNMG television. In August 2017 then Communications Minister Maxie Cuffie reported the media house’s expenses have increased every year from TT $44 million in 2011 to TT $56 million in 2015 and, as a result, subventions have also increased from $10 million in 2012 to 23 million in 2015.