$16M surplus for Broadcasting Corp.

Press, 17 August 1983, Page 4

$16M surplus for Broadcasting Corp.

PA Wellington The Broadcasting Corporation ended the March year with a surplus of more than $l6 million, compared with a surplus of $6.5 million the year before.

The corporation’s annual report says: “An adequate financial result does not necessarily mean that a public broadcasting service is meeting either audience expectations or the require-

ments placed upon it by Parliament.

“In 1982-83, however, the corporation and its staff takes some pride in the fact that they largely met both Samming and financial ” The report notes a “highly satisfactory” level of audience support for radio and television programming during the year, saying that Radio New Zealand stations attracted more listeners than its private competitors and television audiences increased, against overseas trends.

The corporation’s total operating income rose $28.41 million (18.8 per cent) during the year total operating expenditure rose $19,023 million (13.2 per cent), and gross advertising sales rose 27.1 per cent to $115,618 million for television and 21.4 per cent to $40,463 million for radio. The net cost of the New Zealand Symphony Orchestra was $4,206 million compared with. $3,851 million the previous year. Concert proceeds totalled $751,024. Although gross receipts from licence fees were up 1.3 per cent to $38,573 million, the effect on net licence fee receipts was a 0.1 per cent drop on last year because of increased Post Office collection charges.