Free-to-air TV · Chile · 2016–2026 · CMF financial statements

Audiences for sale

How much of Chilean free-to-air TV revenue comes from selling audiences to advertisers, and how much from selling content. Six channels that report to Chile's Financial Market Commission (TVN, Canal 13, Mega, Chilevisión, La Red and TV+), read from the revenue note of each financial statement. Framework: Napoli (2003), Audience Economics, table 1.1.

· Methodology (Spanish) · Code and data · Español

Share of revenue from selling audiences

Revenue composition

Advertising and profitability

Each point is one channel in one year: advertising as a share of revenue (horizontal) and net result over revenue (vertical), from each filing's statement of results. Points outside the scale are drawn at the edge as triangles.

Cost of sales composition

Share of annual cost of sales, from each filing's cost note. La Red does not publish that note; channels report it in different detail.

Data table for the current view

Marked events

    How to read the aggregates

    • Big 4 and 6 CMF channels add up channels only in periods where all of them report. They exclude other concessionaires that report to the CMF (Canal Dos/Telecanal, RDT, TBN Enlace) and regional channels.
    • “TV only” removes Mega's radio and cable advertising.
    • Napoli references: 100% (US broadcast, c. 2001) and 60% (cable networks).
    • Diamond: current comparator. US local TV stations, 2022: over-the-air advertising (US$20.5 billion, Pew/BIA) over advertising plus retransmission fees (US$14.5 billion, Kagan projection). Approximate; excludes the stations' digital advertising.

    Sources and caveats

    • Amounts from the financial statements in thousands of Chilean pesos (M$). Every figure carries its document and page.
    • 2025 CLP: Central Bank of Chile CPI (official monthly change, chained; 2025 average = 100). UF and US$: period averages of the daily UF and the observed exchange rate (Central Bank).
    • H2 = full year − first half. If the filings classify differently, a category can come out negative in H2.
    • C13: “Other revenue” includes asset sales in 2018 (M$6,430,098) and 2020 (M$13,771,539), per the note.
    • TVN 2025: the filing's table has a corrupt font; figures come from the hand-validated pilot and match the OCR reading.
    • Scanned filings were read with OCR and reconcile line by line with the total.
    • Common window 2016–2025. “s/d”: no data in the filings (La Red 2018 revenue breakdown). TVN’s 2025 result comes from the filing’s text (its table has a corrupt font) and is not verified by the tax identity. TVN also has 2010–2015 in the workbook: advertising was 95.4% of its revenue in 2010.