The South African Broadcasting Corporation (SABC) have reported record losses, according to their annual report for 2023. More than R450 million in losses and debts have been documented for the country’s national broadcaster, which comes as a hard blow after some favourite local shows like 7de Laan have been given the axe.
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Here’s more about the broadcaster’s huge monetary loss, and what this could mean for the future of South African television networks.
SABC losses more than R450 million
The SABC have reported a financial loss of more than R450 million, says its 2023 annual report.
Financial reports detail that the SABC has been losing more money than the broadcaster could earn, which has led to many South Africans questioning the future of the networks.
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The broadcasting corporation have already decided to axe favourite shows like 7de Laan, much to the dismay of viewers who considered the show an important part of their daily lives.
While the SABC have asked the National Treasury for an estimated R1.5 billion in funds, this request was refused.
Why is the SABC losing?
The South African Broadcasting Corporation have drawn fire from viewers after the cancellation of 7de Laan after mote than a 20 year run.
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Unfortunately, this came in a long line of decisions by the national broadcaster that weren’t taken well by the public. A previous move to introduce TV Licenses for streaming devices was almost unanymously rejected by public opinion.
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Many South Africans have stopped paying their TV Licenses entirely.
There is also the impact that international and local streaming entertainment services have had: many South Africans simply choose other, instant services over what the national broadcaster has to offer.
Where do YOU stand on this?
What do you think about the South African Broadcasting Corporation, your TV License, and the future of the national broadcaster?
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READ MORE ARTICLES BY ALEX J COYNE