RTVE hindered by lack of funds
July 22, 2019
From David Del Valle in Madrid
Spain’s public broadcaster RTVE is at risk due to a lack of money that is preventing it from acquiring TV content.
The lack of a specific budget for 2019 – given the transitional status of its management and Government instability – has driven the company to the worst audience share in its history, to the inability to buy TV content, and moreover to end the year with deficit.
RTVE has been unable to buy TV rights to the next Olympic Games in Tokyo, despite the Olympics traditionally featuring on its line-up. The group also currently has no new TV series in production and is considering dropping a newscast programme on La 2 to save on resources.
RTVE would need around €50 million to €60 million to buy the Olympic Games TV rights, which would require additional state subsidy. The group is managing an annual budget of around €1 billion with 6,500 workers who represent 40 per cent of the expenditure.
La 1, its flagship channel, ended the season with the lowest audience share in its history, 9.7 per cent.