RTÉ has told a joint Oireachtas committee that it has achieved savings of €93 million over the past three years, exceeding the €60 million cost savings it had committed to.
This is a significant turning point since January 2022, when RTÉ said the €60 million in savings could be difficult to achieve.
In response to questions from the Sunday independent Commenting on the details presented to the joint committee on tourism, culture, arts, sport and media, an RTÉ spokesman said: “In 2019, RTÉ committed to reducing projected costs by €60 million over three years – €10 million im Year 2020, 20 million euros in 2021 and 30 million in 2022. RTÉ has actually achieved 93 million euros in projected cost reductions over this period.
“This over-delivery relates to 2020 and 2021 and was delivered despite the onset of inflation. RTÉ has consistently achieved efficiencies and savings while maintaining important public services.”
In January 2022, RTÉ CFO Richard Collins told a committee that achieving the savings of €60 million would be challenging: “There is a risk with that. The world is constantly changing. There are many risks out there and inflation is upon us now. We are on the right track, although I think it will be difficult to get there.”
RTÉ will shortly benefit from the removal of the National Symphony Orchestra (NSO) from the organization’s purview.
“The net savings from moving the NSO to the National Concert Hall is approximately €6.5 million per year,” the spokesman said.
https://www.independent.ie/business/irish/rte-beats-savings-target-with-93m-reduction-in-costs-42317261.html RTÉ exceeds savings target with €93 million cost reduction
