--
SABC reports R411m net loss --
Fri, 30 Sep 2016 09:34
--
Reported on News24, the SABC announced a R411m net loss for the 2015/2016 financial year on Thursday, 29 September 2016, a slightly bigger loss than the previous years.
I know some expected the losses to be in the billions. I am sorry to disappoint, acting chief executive officer James Aguma told reporters.
In the 2014/2015 financial year it reported a R395m loss.
Aguma attributed the current loss to that the SABC had to cover events of national importance, including former president Nelson Mandelas funeral and the Rio Olympics.
Covering Mandelas funeral cost a handsome sum of money. Reporting on such events provided a huge social return on investment but a negative financial return.
Other factors contributing to the loss included the growth in post-retirement service costs, the impact of tax adjustments arising from previous years and that the SABC got less than 3% of its funding from government.
He said the broadcasters annual salary increases had been above the norm. It used private sector wage increases as its benchmark.
We are a very good employer, Aguma said.
The Auditor General gave the SABCs financial statements a disclaimer in 2013. In the years since then the financials have improved to a qualification. In the current year the SABC had a qualification relating to irregular, fruitless and wasteful expenditure.
Source: News24
Related Articles
SABC journalists battle to get back to work after court victoryJournalists refused entry into work at the broadcasters offices, despite the Labour Court ruling that their dismissals were unlawful...
Read more...
Labour Court rules in favour of four fired SABC journalistsLabour Court has ruled that the South African Broadcasting Corporation must reinstate the sacked journalists...
Read more...
SABC interdicted from enforcing censorship decisionThe Helen Suzman Foundation and the SABC reached a settlement on Wednesday 20 July 2016. The SABC conceded...
Read more...
SABC responds to CCC of ICASAThe SABC has issued a statement announcing that it is still engaging the CCC of ICASA over its recommendations and whether these recommendations have been properly endorsed by the ICASA Council...
Read more...
SABC CEO Jimi Matthews resignsVeteran journalist and SABC acting CEO Jimi Matthews tweeted a copy of his resignation letter on Monday morning...
Read more...
-- --
-- --
-- Please enable JavaScript to view the comments powered by Disqus. comments powered by Disqus
Most recent headlines
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
19/04/2025
SDVI, the leading platform provider for cloud-native media supply chains, today announced that the company earned multiple awards at the 2025 NAB Show, with two...
19/04/2025
Ateliere Creative Technologies, a leading GenAI media software solutions company, today announced that Dan Goman has stepped down as CEO and David Bortis, Ateli...
19/04/2025
As Director of Media and Aerial Production at Terrible Herbst Motorsports, Bryan Moore is setting new standards in off-road racing media coverage thanks to his ...
19/04/2025
A next-generation collaboration device that redefines connectivity for meeting environments
Lightware, an industry-leading manufacturer of signal management so...
19/04/2025
Calrec is today announcing that its True Control 2.0 is a Remote Production winner in the 2025 NAB Show Product of the Year Awards. This official awards program...
19/04/2025
Appear, a global leader in live production technology, proudly announces it has been recognised alongside NBCUniversal with the prestigious NAB Show Delivery Pr...
19/04/2025
Deity Microphones, a leader in innovative audio equipment, is proud to announce the expected release of our Ultra-Wide Band IFB to the market. The THEOS DIFB wi...
19/04/2025
A world renowned broadcaster and long-standing LiveU customer has successfully completed a series of live connectivity tests using LiveU's revolutionary, aw...
19/04/2025
BitFire (bitfire.tv), a longtime leader in live video transport, today announced dual NAB Show award wins at the 2025 NAB Show in Las Vegas. The company's M...
19/04/2025
BitFire (bitfire.tv), a longtime leader in live video transport, today announced three major award wins at the 2025 NAB Show, April 5-9, in Las Vegas. The compa...
19/04/2025
AI video discovery company Moments Lab and Satisfaction Group, a leading independent unscripted television production company, are proud to announce a unique st...
19/04/2025
As the media industry navigates the triple challenge of AI-driven production, distributed teams, and skyrocketing content demand, DigitalGlue s creative.space h...
19/04/2025
Network technology startup Miri Technologies Inc. capped off its tremendously successful NAB Show debut by winning two prestigious industry awards for its cutti...
19/04/2025
CINCINNATI Scripp's Nuvyyo USA has concluded a deal with Warner Bros. Discovery to bring 45 FAST channels to Nuvyyo's Tablo TV device....
19/04/2025
In a ruling that could have broader implications on the legality of regulatory agencies levying fines through administrative proceedings, the 5th U.S. Circuit C...
19/04/2025
WASHINGTON Federal Communications Commission chair Brendan Carr has blasted Comcast over MSNBC's coverage of the deportation of Kilmar Abrego Garcia in a so...
19/04/2025
Berklee NYC and NYC Media Launch Season 3 of Inside Power Station @BerkleeNYC This season features faculty member Arun Pandian as the new host and interviews ...
18/04/2025
Director Andrew Ahn, alongside actors Youn Yuh-jung and Joan Chen, takes a photo of the audience after the premiere of his film The Wedding Banquet at Eccles ...
18/04/2025
In a ruling that could have a major impact on the digital advertising market, a federal judge has ruled that Google has monopolized some types of advertising te...
18/04/2025
Broadcast and cable TV news outlets saw strong social media growth in March, according to new data from the social video analytics company Tubular Labs ....
18/04/2025
Berklee Student Yukai Yang Named 2025 Yamaha Young Performing Artist The drummer secured a spot among the elite winners in this years competition.
By
Maddie...
18/04/2025
Boston Conservatory Alums Bring Real Women Have Curves to Broadway The Latin American immigrant community takes center stage in a new musical featuring Tatian...
18/04/2025
WASHINGTON The FCC's call for public comments and suggestions on outdated regulations that it should be eliminated, has prompted a slew of fillings from bro...
18/04/2025
In a ruling that could have a major impact on the digital advertising market, a federal judge has ruled that Google has monopolized some types of advertising te...
18/04/2025
PEARL RIVER, N.Y. Global media solutions company Active Media Services (AMS) has formed a new relationship with VideoAmp, a measurement company for linear TV, c...
18/04/2025
Netflix reported generally positive results for first-quarter 2025, with revenue up 13% year-over-year to $10.543 billion and operating income growing by 27% to...
18/04/2025
NHL Playoffs 2025: TNT Sports Hits the Road for Onsite Productions With Mobile U...
18/04/2025
EVSs S bastien Verlaine on U.S. Expansion, Next-Generation Products Beyond replay, offerings also target asset management and media infrastructure By Ken Kersc...
18/04/2025
ESPN Unleashes 4DREPLAY as NCAA Women's Gymnastics Championships Hit ABC Men's championships to follow Saturday night on ESPN2 By Brandon Costa, Direct...
18/04/2025
Visualizing Victory: The Latest in AR, XR, and Virtual Production in Live Sports This panel discussion featured leaders from ESPN, CBS Sports, Warner Bros. Disc...
18/04/2025
NHL Playoffs 2025: With 16 Games in First Six Days, ESPN Deploys Variety of Remo...
17/04/2025
Emilie Blichfeldt attends the 2025 Sundance Film Festival premiere of The Ugly ...
17/04/2025
R-GPS gives warfighters a decisive battlefield advantage by punching through adv...
17/04/2025
This year's NAB Show in Las Vegas marked a noticeable shift in the priorities of media and broadcast organisations. Gone are the days of chasing flashy, or ...
17/04/2025
class=attachment-thumbnail size-thumbnail f-align-center alt= decoding=async data-lazy-srcset=https://www.antonbauer.com/wp-content/uploads/2024/12/Amy-Daniel-1...
17/04/2025
SAN JOSE, Calif. Roku and Adobe have announced that they are collaborating on a real time data platform made possible by a a new integration of the Roku Data C...
17/04/2025
NEW YORK Internet advertising revenues demonstrated strong growth in 2024, increasing 14.9% year-over-year to $258.6 billion, according to the IAB Internet Adv...
17/04/2025
SDVI Earns Both Product and Project of the Year Awards at 2025 NAB Show
Brie Clayton April 17, 2025
0 Comments
Left to right, Geoff Stedman, CMO, SDVI...
17/04/2025
Singapore Polytechnic Readies Aspiring AV Professionals for Live IP Productions ...
17/04/2025
Calrec Wins 2025 NAB Show Product of the Year Award for True Control 2.0
Brie Clayton April 17, 2025
0 Comments
Image: The Calrec True Control 2.o on ...
17/04/2025
In Return to Berklee, Lucius Looks Back and Moves Forward From mood boards to live demos, the alumni band gave students an exclusive look at the process behin...
17/04/2025
DirecTV's free streaming service MyFree DirecTV has just added another eight channels from NBCUniversal....
17/04/2025
LOS ANGELES The virtual production company GameChanger has announced that it is expanding its global footprint by bringing its virtual production technology to ...
17/04/2025
DENVER The International Broadcaster Coalition Against Piracy (IBCAP) has announced that it has developed a proprietary, automated software-based system to iden...
17/04/2025
Pixalate's new CTV Device Market Share report for Q1 2025 shows that Roku has the highest open programmatic CTV device market share in the United States, wi...
17/04/2025
Edward J. Lewis III Named Senior Vice President of Institutional Advancement Lewis has more than 20 years of industry experience, leading fundraising initiati...
17/04/2025
The Curling Group Puts On Inaugural Curling All-Star Game in Nashville The location in Music City is intended to broaden the sport's appeal By Dan Daley, ...
17/04/2025
April 17th, 2025 Press Materials Available Here
Tribeca Festival 2025 Announces TV & NOW Lineup
World Premieres and Exclusive Cast Panels with Apple TV '...
17/04/2025
SVG Sit-Down: Cisco's Bryan Bedford on Providing End-to-End Support for Clie...
-- 
