The pioneering streaming broadcaster requested bankruptcy protection after accumulating millions in debt and experiencing a decline in advertising revenue
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Vorterixwas born with an ambitious proposal: to reinvent traditional radio through streaming. Its creator, Mario Pergolini, made a bold bet on a multimedia platform when the market wasn't ready yet.
The company invested in cutting-edge technology and expensive equipment. However, bureaucratic obstacles to importing supplies delayed the project and caused additional costs that determined its fate.
Despite the efforts, the model never managed to achieve financial stability. The cost structure proved unsustainable in the face of a market that didn't respond as expected.
Pandemic, recession, and the collapse of advertising revenue
In 2020, the pandemic hit the media sector hard. Vorterix was no exception. Its advertising revenue, the foundation of the business, dropped to almost zero for more than 18 months.
Mario Pergolini y la crisis financiera de Vorterix.
The cut in official advertising and the reduction in spending by private advertisers ultimately left the company without funding. Salaries, taxes, and unpaid obligations began to accumulate without restraint.
The president of the company, Martín Morales Groschopp, asked the judge to open a "small preventive bankruptcy proceeding." The firm had 20 registered employees and met the legal requirements for this type of process.
Mario Pergolini.
A multimillion-dollar debt and a pending judicial decision
The list of creditors includes individuals, companies, and public entities. A debt with the Revenue and Customs Control Agency stands out, exceeding 645 million pesos.
There are also significant amounts owed to AADI-CAPIF, technology firms, and service providers, in addition to unpaid labor obligations.
Vorterix's collapse reveals a fatal combination: innovation ahead of its time, a hostile macroeconomic context, and a media model that is increasingly suffocated. The project's future is now in the hands of the courts.
