SABC's Corporate Plans Facing Strong Headwind From Covid-19 Impact
South Africa's public broadcaster, the SABC has said that it might have to revise its corporate plans for 2020/21 because of the debilitating impact of the Coronavirus on its revenue stream!.
The media organisation's plan was hinged on aggressive increases in all aspects of its income, expecting advertising revenue to increase by 14% and content monetisation by 30%.
Updating a South African parliamentary committee on the state-of-health for the national broadcaster, Mr Bongimusa Makhathini (board chairperson) and Mr Madoda Mxakwe (Group CEO) of SABC painted a reasonable stable picture, saying that right about now, the SABC "does not own anyone at the moment"(outside SENTECH, it seems).
The R3.2 billion money it received as government bailout has thus been used to settle all outstanding debt.
Considering the current state of affairs, vis-a-vis the impact of the ravaging Coronavirus disease, it is being reported that SABC is now expecting a budgetary shortage of about R2 billion. This is way more than the R430 million shortfall that was penned into the 2020/21 financials.
Credit: Content contribution from teeveetee.blogspot.com