Home TV RTÉ reports €2.8 million deficit for 2015

RTÉ reports €2.8 million deficit for 2015

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RTÉ has reported an overall deficit of €2.8 million for 2015, according to is annual report.

Despite receiving an operating profit of €14 million (EBITDA) in 2015, the station blames the negative impact of foreign currency on the deficit, as well as the lack of public funding, including the TV license fee.

Kevin Bakhurst, the deputy director-general said, “Successive independent reviews find RTÉ’s operations to be efficient. Yet, while we managed to deliver some increases in commercial revenue, overall the public funding base remained static and is, in real terms, declining.

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“Without a meaningful review of public funding, RTÉ will remain financially challenged, and unable to maintain or increase investment in the sector, or to invest in important investigations, drama development, and landmark factual programming.”

Despite the financial woes, for the second year in a row, the number of people employed by RTÉ increased, with 1,978 employees noted at the end of 2015.

“RTÉ will continue in its efforts to manage costs and grow revenues, to deliver for audiences with our programming and services, and continue innovating with new digital products and services,” Mr Bakhurst continued.