RT RETURNS NET DEFICIT OF 9.1 MILLION IN 2023 A CHALLENGING YEAR FOR THE ORGANISATION
A DECLINE IN TV LICENCE REVENUES, ALONG WITH AN INCREASE IN OPERATING COSTS AND THE BROADCAST OF SPECIAL EVENTS CONTRIBUTED TO DEFICIT FOR 2023
To view RT 's 2023 Annual Report, visit https://about.rte.ie/reports-and-policies/annual-reports/
RT is today releasing its Annual Report and Group Consolidated Financial Statements for the Year Ended 31st December 2023, following it being laid before the Houses of The Oireachtas this evening.
>>> RT 's 2023 Annual Report in summary:
TOTAL REVENUE: Total revenue (TV Licence/Commercial) decreased by 3.7m between 2023 and 2022 ( 344.0 million in 2023 vs 347.7 million in 2022).
LICENCE FEE: Licence fee income received by RT in 2023 was down 17.3 million compared to 2022, as TV licence sales were negatively impacted by the RT payments controversy. While this decline was somewhat offset by the additional 15m of interim funding, this additional funding was already allocated in RT s 2023 plans. This interim funding means that TV Licence revenue declined by 2.3 million ( 193.3 million vs 195.6 million).
COMMERCIAL REVENUE: Commercial revenue of 150.7 million in 2023 represented a year-on-year decrease of 0.9% (2022: 152.1 million). The main reason for this was the decline in Television Trading offset by Other Non-Trading revenues as RT continues to diversify its revenues.
OPERATING COSTS: Operating costs, excluding Special Events, increased by 9.3 million year-on-year ( 341.9 million in 2023 vs 332.6 million in 2022) as the 2022 pay agreement with the TUG took effect and the Irish economy entered a high inflation environment. RT also provided for additional amounts relating to the on-going investigation by the Department of Social Protection into the PRSI status of contractors.
SPECIAL EVENTS: Special Events costs increased in 2023 by 0.7 million ( 7.4 MILLION IN 2023 vs 6.7 million ion 2022) due to increased activity as the FIFA Women's World Cup, Rugby World Cup, European Qualifiers and the visit of US President Joe Biden occurred in 2023 vs the FIFA World Cup and UEFA Nations League in 2022.
PERSONNEL-RELATED COSTS: Personnel-Related costs increased by 9.8 million due to the Pay Agreement reached in November 2022, the increase in the contractor provision and pay increments awarded. These were offset by the hiring freeze announced in response to the decline in licence fee sales. Following a significant increase in energy costs in 2022, 2023 saw a 1 million drop in energy costs as the wholesale market price declined across 2023.
TRANSPARENCY: For the first time, and in line with the previous commitment of RTE Director-General; Kevin Bakhurst, RT has published in its annual report the earnings of its ten highest-paid on air presenters for the year as well as remuneration details of the permanent members of its Leadership Team
CASH BALANCES: Total cash balances, including liquid investments, on 31 December 2023 amounted to 78.7 million (2022: 114.0 million). This represents a decrease of 35.4 million and was primarily due to the decline in the level of licence fee sales following the RT payments controversy along with negative working capital movements during the year.
NET DEFICIT: The Net Deficit after tax and Exceptional Items for the year was 9.1m (- 2.8m in 2022)
Chair of the Board of RTE, Terence O'Rourke, said: While the publication of this report is an opportunity to reflect on the challenging year that 2023 was for RT , we are very much focused on the important work now well underway to transform the organisation. With the support of the multi- annual funding commitment announced by Government in July, RT is moving forward with an ambitious new five-year strategy. The Board is dedicated to ensuring that this work is underpinned by the highest standards of corporate governance and transparency.
Director-General of RT , Kevin Bakhurst said: 2023 was a difficult year for all of us in RT and for the many who had placed their trust in us. In response, through wide-ranging and significant reforms, I, along with my leadership team and the Board of RT , have faced the key issues head on and been committed to delivering the transformation RT needs to rebuild trust and restore confidence, both internally and externally. Through an unprecedented reform agenda, we have delivered greater transparency, rigour in our decision-making and more financial discipline, while focusing on the future and fulfilling our ambition for RT . We are grateful to all those who have paid their TV Licence during this period.
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
23/07/2026
Download Now!
To receive a short case study showcasing Vivid Broadcast's audio setup, please enter the following details:
--
First Name* First Name ...
23/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
23/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
23/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
23/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
23/07/2026
Witbe brings its AI-native testing and monitoring infrastructure to Amsterdam: demonstrations on real devices, a peer-reviewed technical paper in the conference...
23/07/2026
Quickplay, Caretta Research, Evergent, and Yospace have announced that the renowned IBC Pride Happy Hour will once again bring the vibe and fun back to IBC on F...
23/07/2026
At IBC2026, Interra Systems will present this year's focus: operational AI at scale for QC, monitoring, and captioning workflows. The industry has moved pas...
23/07/2026
Illusionfx is finally coming!
Alex Perea July 23, 2026
0 Comments
The new website is now live to mark the occasion.
Since the last update, feedback h...
23/07/2026
Evergent (5.A86) will showcase its Agentic Revenue Orchestration Platform for streaming services, sports leagues, pay-TV operators at IBC2026 (RAI Amsterdam, 11...
23/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
23/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
23/07/2026
David Dvir, 2D founder (left), Sundeep Reddy (center), and Jean-Marc Bouchut (right), both of Zeiss...
23/07/2026
Screen Australia announces new national documentary accelerator program 23 July 2026
Screen Australia has today announced the Above the Line Documentary Accel...
23/07/2026
RT Commercial has today announced Centra as the official food partner once again of The Traitors Ireland, coming to RT One and RT Player later this year.
Ce...
23/07/2026
RT Commercial today announced Honda as sponsor of Today with David McCullagh RT Radio 1, weekdays 9am 11am.
Broadcasting directly after Morning Ireland in ...
23/07/2026
RT News is pleased to announce Barry Gallagher has been assigned as the new journalist covering news from Cork, Kerry and the wider Southern region
Working al...
23/07/2026
Lock in and load up the cloud. GFN Thursday brings fresh updates and new adventu...
22/07/2026
Among other tweaks to coverage, the broadcaster added announce positions in the ...
22/07/2026
The Australian Sports Technologies Network (ASTN) has reported a sharp acceleration in Australia's sportstech sector, with revenue growth rising from 10% in...
22/07/2026
From a retrofitted broadcast bus to packed Match Day Live! events, Bennett detai...
22/07/2026
TMRW Sports has named Brendan Donohue as President, Flag Football, where he will lead the company's professional flag football business in partnership with ...
22/07/2026
Stephen Arnold Music (SAM) designed and produced soundtracks for nine projection...
22/07/2026
Harmonic has announced a $25,000 donation to Global Empowerment Mission (GEM) fo...
22/07/2026
Telemundo has announced it has acquired from UC3 exclusive U.S. Spanish-language...
22/07/2026
The Rest Is Football, hosted by Gary Lineker, Alan Shearer, and Micah Richards, ...
22/07/2026
Sports Studio has announced a partnership with TheSoul Group to distribute Free ...
22/07/2026
Daktronics has concluded its 2026 High School Video Summit, a two-day hybrid event combining virtual sessions with hands-on host school visits across the countr...
22/07/2026
FOR-A America will exhibit at the MMCA Show in Pensacola, Florida (July 21-24), marking the company's first appearance at the house of worship AV event. FOR...
22/07/2026
The New York Yankees have selected Lumen Technologies (NYSE: LUMN) to connect Ya...
22/07/2026
Calrec will exhibit at IBC 2026 (Stand 8.C47) with demonstrations of its IP-native audio ecosystem built around the Argo console range, and will announce two ne...
22/07/2026
Solid State Logic has announced the appointment of Algam EKO as its distributor for SSL large format consoles in Italy, covering the Live, Broadcast, and Studio...
22/07/2026
FloSports has announced the launch of the FloSports Channel, a free ad-supported streaming channel premiering on Prime Video in the U.S. on July 21. The channel...
22/07/2026
Banana Ball TV (BTV), the broadcast operation of the Savannah Bananas, has insta...
22/07/2026
SiriusXM and Audacy have announced an agreement bringing 42 Audacy sports, news, and talk stations from 29 U.S. markets to SiriusXM. Twenty-three Audacy sports ...
22/07/2026
The collaboration produced more than 500 short-form videos across four cities th...
22/07/2026
At 2,600 sq. ft., the new home of digital content houses a main studio, podcast space, and an auxiliary control room
NFL franchises are accelerating their prod...
22/07/2026
Library now available in Engine Player
Another of Eduardo Tarilonte's popular sample libraries has just been moved over to Engine Audio's Engine Pla...
22/07/2026
All-in-one mic & DSP interface overhauled
Cloudvocal have just refreshed the design of their all-in-one mic, audio interface and DSP processor, introducing ...
22/07/2026
The final boss of the lost dual-op-amp circuit
Electro-Harmonix have just introduced the Deluxe Big Muff Pi 2, which they say offers their latest take on t...
22/07/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
22/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/07/2026
Proven managed IP solution helps broadcasters confidently navigate the future of broadcast distribution
LTN announces it has completed successful satellite-to-...
22/07/2026
Today, Chaos announced V-Ray 7, update 4, eliminating the need for asset conversions and tool switching, which slow down media and entertainment pipelines. Arti...
RT RETURNS NET DEFICIT OF 9.1 MILLION IN 2023 A CHALLENGING YEAR FOR THE ORGANISATION
