The figures released yesterday by the Australian Communications and Media Authority are getting on for two years out of date now but they confirm that it is news and current affairs programs that are suffering from the decline in the television industry’s profitability. ACMA’s publication Broadcasting Financial Results 2007-08 shows the commercial television sector reported $4159.3 million in revenue that year for a reported broadcasting service profit of $317.9 million. Back in 2003/04 profit was just under $600 million.
Spending on news and current affairs programs in 2007-08 was down considerably with light entertainment and sport being the big growth areas.
