Big loss for the SABC

[rpm]

Big loss for the SABC

The South African Broadcasting Corporation (SABC) tabled its 2018/19 annual report in Parliament which revealed a net loss of R482.4 million.

The main contributors to this net loss, the SABC said, were losses incurred on sporting events and interest incurred as a result of the liquidity constraints.

 

[joshuatree]

Nothing new. Part and parcel of all state entities THESE days...

 

[Okty]

And soon people’s retirement savings are going to get used to plug these deficiencies (in stead of tax).

 

[ɹǝuuᴉM]

Nothing new. Part and parcel of all state entities THESE days...

Are you saying the ANC is failing South Africa? /racist

 

[supersunbird]

Shouldn't sporting events coverage be profitable, with ads and such? Or is it sports few watch, so ads cannot be expensive enough to be profitable?

 

[konfab]

Shouldn't sporting events coverage be profitable, with ads and such? Or is it sports few watch, so ads cannot be expensive enough to be profitable?

The SABC isn't profitable because of they don't have revenue.

They are not profitable because they have too many overpaid employees.
https://businesstech.co.za/news/general/99822/r590000-for-every-sabc-employee/amp/

 

[ConfusedR]

The SABC isn't profitable because of they don't have revenue.

They are not profitable because they have too many overpaid employees.
https://businesstech.co.za/news/general/99822/r590000-for-every-sabc-employee/amp/

Exactly.
The ANC government's plan for job creation, is to employ 10 people to do the work of 1.
This goes for all SOEs.
Then when the **** hits the fan and they want to retrench, they have the unions.

 

[Mila]

Sell it.
Close it down.
There is no need for it.
Maybe people will start reading again.

 

[Thor]

Close it.

 

[lkswan747]

Why should we be surprised? Sell them off so the money can be squandered somewhere else.

 

[cyb3rt]

Close it. Just close it down.

 

[jetlee]

Van Biljon said the crisis is a matter of urgency and certain terrible scenarios like a complete blackout remains a possibility

I ROFLed ...

 

[N@t3]

Just join the titanic already.

 

[Pineapple Smurf]

please go away SABC
tsek, the tribe has spoken

 

[The Darkness]

it's simple economics here. they have more money going out than in. problem is they are past the tipping point and inside the death spiral, and since ALL advertising has seen a decline in the traditional TV ad sense, they have failed. since ads pay for TV, and advertsiers have moved off to digital, there just is no hope for SABC. They'll flog this dead horse though.

 

[Hemi300c]

Cum Dunts
You are over staffed, mismanaged and corrupt - THAT'S THE FVCKING REASON!!!!!!!!!!!!!!!!!!!!

 

[system32]

Advertisers bailed when Cloudy introduced his local content policy.
Advertisers remembered the Gupta newage breakfast.
Advertisers never came back.

Close it down. privatise it, sell it - we don't need it.

 

[pinball wizard]

It's because you lot didn't pay your tv licenses.

 

[Binary_Bark]

 

[wernervn]

Broke SABC chided for incurring R5.2bn in irregular expenditure

Auditor-general raises doubt about the broadcaster’s going concern status

www.businesslive.co.za

The SABC’s annual report tabled in parliament on Monday shows that the broadcaster incurred irregular expenditure of R5.2bn, up from R4.9bn the previous year. This as it continues to face an uncertain future due to crippling financial challenges.

This is why they want higher license fees. Someone has to pay for all that irregular expenditure, and who better than the suckers that are already paying...