According to industry reports, South Africa’s public broadcaster is set to record yet another annual loss of US$33 million for the 2023/2024 financial year, noting in documents that “the current budget reflects an SABC in financial distress”.
The SABC’s US$33 million loss will be lower than its US$61 million loss in the previous year.
The SABC is losing money on SABC2, SABC3, SABC Sport, SABC News, and certain SABC radio channels.
In documents, the embattled public broadcaster says its “current budget reflects an SABC in financial distress”.
The SABC only projects to “return to profitability in the financial year 2027,” which will be the financial year ending at the end of March 2028. In that year, it expects to make a US$51 million profit.
The SABC has been making losses since 2014/2015.
SABC+ is expected to reach 500,000 users by the end of the financial year after the broadcaster restarted and reset for a third time to establish a new user base.
According to the SABC, SABC+ has yet to be monetised.
