BBC Looking to Cut 1,000 Hours Annually as Savings Target Leaps to $500 Million
is set to slash its annual output by 1,000 hours worth of shows to cope with savings requirements that have shot up by some 40 percent to almost half a billion dollars.
In its Annual Plan, published Thursday, the British public service broadcaster revealed that its original projected requirement to find £285 million in savings by 2028 had increased to £400 million , adding that there would be an “acceleration” of its savings plans. It pinned the blame on the current freezing of the compulsory license fee “at a time of high inflation and media super-inflation,” together with the fact it is reinvesting £300 million into digital.
The BBC said there would be “difficult choices to come this year,” alongside the already announced cost-saving measures, including the creation of a single, integrated BBC News Channel and shifting a number of World Service TV and radio broadcasts to digital.
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