SABC goes from hero to zero
The South African government founded the South African Broadcasting Corporation in August 1936, and after reaching peak profitability in the 2000’s, has seen its finances decline to a very poor state.
The broadcaster was founded by an Act of Parliament when the SABC took over the African Broadcasting Company’s assets and staff.
The African Broadcasting Company was formed roughly 9 years earlier through the merger of three South African radio services, which were owned by IW Schlesinger.
The SABC maintained a state-regulated monopoly on radio services in the country until December 1979, when Capital Radio 604 launched, followed by Radio 702’s launch in 1980.
Prior to the launch of television in South Africa, the SABC managed three primary radio stations: the English Service, the Afrikaans Service, and a commercial station, Springbok Radio.
The English Service later became known as Radio South Africa, while the Afrikaans Service became known as Radio Suid-Afrika and Afrikaans Stereo.
Television launched in South Africa in 1976 after years of political resistance. The National Party feared TV would undermine the apartheid regime.
The ruling party feared that English media would erode Afrikaner culture, promote racial integration, and corrupt public morals through foreign consumerism.
The SABC didn’t participate in subscription-funded broadcasting with M-Net, which launched in 1986. However, it maintained a monopoly over free-to-air TV until eMedia’s E-tv launched in 1998.
From 1976 to 1982, the SABC operated a single bilingual television channel called SABC Television, which later became TV2.
It expanded its channel offering in 1982 to include TV2 and TV3 as a shared service aimed primarily at black South African audiences.
The SABC then separated TV2 and TV3 into separate full-time channels in 1983, before launching TV4 in 1986. TV4 focused largely on sport and entertainment.
After apartheid ended in 1994, the SABC restructured its channels in 1996 to the SABC1, SABC2, and SABC3 brands.
From healthy profits to substantial losses
Following the restructuring, the public broadcaster reached peak financial performance in the mid-2000s.
At the time, TV advertising was still dominated by free-to-air broadcasters, and DStv hadn’t established dominance in middle-income households.
From the 2000/01 to the 2004/05 financial years, the SABC’s annual reported revenue grew from around R2 billion to R3.5 billion, and it reported profits in each year.
The revenue figure grew to around R4 billion in 2005/06, when the public broadcaster reported an after-tax profit of R383 million.
The SABC hit peak financial performance in the 2006/07 financial year, reporting revenue of around R4.4 billion and an after-tax profit of R183 million.
Revenue grew to around R4.7 billion in 2007/08, and the SABC reported a net profit decline of R321 million in the following year, marking its last profitable year until 2011/12
In 2008/09, it reported a net loss of R910 million, followed by a net loss of R486 million in 2009/10 and R129 million in 2010/11.
The SABC returned to profitability in 2011/12, reporting a net profit of R343 million, followed by R330 million in 2012/13 and R652 million in 2013/14.
However, these were the last years in which the public broadcaster reported a net profit. The 2014/15 financial year saw a net loss of R395 million, which grew to R411 million the following year.
Its net loss surged to R977 million in 2016/17, then improved to R622 million in 2017/18 and R482 million in 2018/19.
The highest net loss the SABC recorded was in the 2022/23 financial year, when it reported a net loss of R1.13 billion.
The chart below tracks the SABC’s reported annual net profits and losses from the 2004/05 financial year to 2024/25.
SABC turns 90
The SABC turned 90 on 1 August 2026, with the public broadcaster celebrating the milestone in a statement.
“The SABC has grown alongside the nation, evolving from traditional radio broadcasting into a dynamic multimedia organisation,” the public broadcaster said.
It added that it currently serves audiences through its 6 TV channels, 19 radio stations, and various digital platforms, including its free-to-use SABC Plus streaming platform.
“As the country’s only public broadcaster, the SABC champions local content, nurtures home-grown talent, and celebrates the country’s rich cultural heritage,” the SABC said.
It added that it has played a vital role in promoting the country’s 12 official languages, music, traditions, and stories.
Commenting on the broadcaster’s 90th anniversary, CEO Nomsa Chabeli took the opportunity to reflect on the SABC’s evolution.
“The SABC had documented the nation’s defining moments, recording periods of hardship and hope, decision and reconciliation, and preserving an audiovisual record of our country’s history,” she said.
The SABC said it was looking forward with confidence and that its ambition is to build a world-class public service media organisation.
“The SABC’s 90th anniversary is a reminder of how South Africa has evolved, the enduring power of broadcasting to unite people and foster understanding and strengthen democracy,” the SABC said.
“The Corporation remains committed to serving all South Africans and shaping the conversations that matter for generations to come.”
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