It is clear that the size of markets has a significant impact on that. We rely primarily on local advertisers, so the healthier the local market, the better positioned we are to remain viable. Generally speaking, radio stations in our markets are still effective. As Ms. Jamet mentioned earlier, radio continues to reach and engage with the public.
As a result, when investment is made in our media through advertising, advertisers are still able to achieve results. That is one of the key features of small markets. That said, competition in these markets is extremely fierce. We are not alone in any of our markets, and our competitors are facing the same challenges we are when it comes to labour and efficiency.
We are sharing a pie that is shrinking year after year. Consequently, we have to compete increasingly aggressively, despite a sharp rise in operating costs, many of which are beyond our control. The cost of equipment, for example, has increased dramatically in recent years. At the moment, this makes the business model difficult to sustain.