National broadcaster RTE made overall loss last year of €2.8m
Published 19/07/2016 | 16:17
National broadcaster RTE made an overall loss last year of €2.8m, reversing a small surplus in 2014.
In a statement RTE said cost pressures, including the negative impact of currency swings were behind the loss. Since the crash RTE has been forced to cope with dramatically reduced resources.
State funding was cut by €5m in Budget 2014.
The figures are contained in RTÉ’s Annual Report and Group Consolidated Financial Statements for the Year Ended 31st December 2015, which were signed off by the Government today.
Commercial revenues were up in 2015 by 4pc. The accounts show the majority of RTE’s income was from license fees, which added up to €178.9m compared to commercial income of €155.4m. On the commercial side, TV advertising added €83m to RTE’s coffers, compared to €19m from radio and €7.5m from digital advertising.
Reacting to the news, Kevin Bakhurst, deputy director-general RTÉ and managing director of RTÉ News & Current Affairs, said: “Over the past five years we have made huge progress in reshaping RTÉ for the future. Costs remained substantially down on 2008 levels and successive independent reviews find RTÉ’s operations to be efficient. Yet, while we managed to deliver some increases in commercial revenue, overall the public funding base remained static and is, in real terms, declining. Evasion levels (14%) and the steady increase in homes without a television set are creating a critical environment for RTÉ and its ability to support the wider cultural sector in Ireland. The audience remains at the centre of all that we do; RTÉ will continue in its efforts to manage costs and grow revenues, to deliver for audiences with our programming and services, and continue innovating with new digital products and services.