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The 2016-17 Budget and how it impacts TV networks

SBS were the winners this week with news from Canberra that the network will receive just over $814 million in funding over the next 3 years, plus an extra $8.3 million for indigenous and multicultural programming.

ABC were not so fortunate with an announcement that they would lose $48 million in funding meaning a likely loss of jobs for staff at the network.
Positive news for free to air networks with a mention of broadcast license fee reductions from 4.5 per cent of gross revenues to 3.75 per cent. A total savings estimated at 163 million across all networks which was received well however not the news they were hoping for. Comments from the industry have suggested that the Australian broadcast license fee’s are still too high and not comparable on an international level.
With SBS as the overall benefiters they will be able to continue delivering quality news and current affairs content and also to provide multicultural programming to the four million Australian viewers that speak a language other than English, helping to promote and maintain the diversity of our Country.

 

Written by

Client Service Manager With Q Advertising since November 2016

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