State broadcaster TVNZ posted a paper loss of nearly $24 million today, but an operating profit of $3.9 million.

CEO Jodi O'Donnell told Heather du Plessis-Allan that the paper loss was due to a heavy rate of investment into the streaming platform.

"We've signalled that for the next two years we will strategically invest our savings into ensuring that TVNZ is around for a long time yet," O'Donnell said.

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