RTVE budget to hit €1bn

Spanish pubcaster RTVE will see its budget hit €1 billion (US$1.2 billion) next year.

The broadcaster has a 2017 budget of around €972 million, but this will increase due to new taxes.

Recent media law changes mean pay TV operators such as Telefonica and RTVE’s free-to-air rivals must pay directly into the pubcaster pot.

RTVE is banned from advertising, so pay TV firms pay in 1.5% and FTAs 3% of the revenues to top up a state subsidy of around €342 million.

RTVE chief José Antonio Sánchez said the new cash would be used for new projects, programming and, in particular, digital transformation iniatives.

The pubcaster’s financial position has greatly improved in recent years. In June, RTVE, which operates the La 1 and La 2 channels, presented a surplus of €2.2 million, noting this contrasted with a 2014 deficit of €64.1 million.

RTVE’s directors have greenlit production of Mediaproducción’s Crush, Zebra Productions’ ¿Y Tú qué Opinas? (What Do You Think?) and Brutal Media’s El Forastero, along new dramas Alma Mater from Boomerang TV and El Continental from Gossip Event and Productions.