Fuji TV said Thursday that it expects advertising revenue in fiscal 2024 to be ¥23.3 billion ($151.2 million) lower than its previous forecast, after many companies suspended their commercials following a scandal involving former pop star Masahiro Nakai.
The broadcaster, projecting its ad revenue to total ¥125.2 billion in the year through March, expects to fall into the red. Its parent, Fuji Media Holdings, revised down its fiscal 2024 consolidated earnings forecasts as a result.
The bleak figures were announced after Fuji Television formally decided at its board meeting the same day not to charge advertisers for commercials they have pulled.
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