RTÉ released its Annual Report 2014 (9th Sept 2015); for the second year RTÉ has achieved a break-even financial result. Despite the €5 million reduction in public funding in the 2014 Budget, and with some growth in commercial revenue, RTÉ returned a small financial surplus for a second year. The break-even financial result achieved in the last two years follows a major restructuring of all of RTÉ’s operations, with extensive efficiency drives across all activities, including voluntary pay cuts. RTÉ significantly reduced its operating cost base by 30% compared to 2008 and return to a more stable financial footing.
Over the past three years we have made huge progress in reshaping RTÉ for the future, not only by reducing costs but also by continuing to review and enhance everything that we do. During this period we have been subject to successive independent reviews that have found RTÉ’s operations to be efficient. Yet, even while the recession is slowly lifting, the overall media market continues to be highly competitive and fragmented. RTÉ will continue to fulfil the obligations and responsibilities placed upon us, and to remain relevant and essential to the everyday lives of people in Ireland. Achieving a secure funding basis is critical to RTÉ’s future and to the wider cultural sector in Ireland. Audience remains at the centre of all that we do; our efforts to reduce costs and grow revenues would be for nothing if we didn’t continue to deliver for audiences with our programming and services, and continue innovating with new digital products and services.
RTÉ has innovated and evolved, so that we will continue to meet audience needs, and play an impactful and meaningful role in Irish life.
Read the full statement from RTÉ's Director-General, Noel Curran here.
The Above Content is a Press Release from RTÉ