FINANCIAL YEAR

Waikato Times, Volume 125, Issue 20892, 25 August 1939, Page 9

FINANCIAL YEAR

BROADCASTING SERVICES PRIVATE STATIONS PURCHASED (By Telegraph.—Special to Times) WELLINGTON, Thursday An excess of revenue over expenditure of £10,597 is shown in the bal-ance-sheet of the commercial broadcasting service for the year ended March 31, which is published in the annual report on the National Broadasting Services. The report, which was presented in the House to-day, states that the total broadcasting expenditure exceeded revenue by £7387. In the previous year the indebtedness of the commercial service to the National Service amounted to £101,926. This sum included advances, interest and copyright fees. The advertising revenue of the commercial service for the past year amounted to £161,305, compared with £98,407 the previous year. The pas! year was the first complete year of operation of the four main stations of the service. No special concessions were made of it, and full commercial rates were paid for all services rendered. The National Stations “During the year four private stations were purchased at a total cost of £4827,” states the part of the report dealing with the National Service. ‘“There are now two stations being subsidised by the Government and two stations owned by the Government being operated under contract. The need for improvement in the studio accommodation in Wellington, Christchurch and Dunedin has become more acute each year. "Close touch is kept with modern developments abroad, both in studio design and technical progress, and all appropriate improvements are adopted as opportunity offers.” Capital Expenditure The capital expenditure of the National Service (totalled £7 5,703, of which £29,273 was spent on the Hawke’s Bay transmitting station and studios. The Southland station absorbed £23,405, while £11,514 was spent in the purchase of a building in Dunedin which is to be reconstructed and used for office and studio purposes. A further £60,000 was invested temporarily for future capital commitments.

Licence fees realised £360,961 and expenditure on programmes amounted to £12,900 more than in the previous year, due chielly to additional stations being in operation. For the same reason, the cost of maintenance increased by £3850. An additional sum of £ll,Blß was allowed for depreciation of assets.