The South African Broadcasting Corporation (SABC) has made a net loss of R1.13 billion in this current financial year. This translates to a R949 million more than the previous financial year.
The public broadcaster claims that this significant under performance of revenue can be attributed to a variety of internal and external factors including the impact of analogue switch off, load shedding, the inability to monetise sport properties and the increasing TV Licence evasion rate.
Meanwhile, it’s not all dark and gloom as the public broadcaster posted a 70% reduction in Audit findings over a 5-year period with a significant improvement in their financial controls.
The SABC Board says through a statement that it will prioritise the stabilisation of revenue generation and various interventions. It further states that the corporation is confident of turning the corner towards financial sustainability and growth in the near future.
The SABC is also confident about their new offerings like the SABC Plus and the newly launched DTT language channel Lehae and that the planning for the 2024 National Elections are well on track.