by Staff reporter

The national broadcaster’s revenue base has dwindled due to the deleterious effects of the COVID-19 pandemic, a source within the broadcaster has revealed.

The source said the pandemic had impacted adversely on the collection of licence fees and legacy debts amounting to over ZW$100 million.

“The pandemic hit hard the usual business which has resulted in the corporation’s traditional advertising clients pulling out. This has therefore affected revenue generation ability,” said the source.

She added that the pandemic reduced revenue as business customers reduced their advertising budgets. ZBC, she said, lost revenue from major campaigns such as Ok Grand Challenge, TM Pick ‘n’ Pay Grand Bonanza, Zimbabwe Trade Fair 2020, Harare Agriculture Society, Horse racing and other promotions.

Source said ZBC was now failing to meet some of its financial obligations.

“ZBC has failed to effect the 40% Government recommended salary increment as monthly revenue inflow declined from about ZW$40 million to about ZW$26 million. The corporation has a wage bill of ZW$12 million for its 739 employees, operational costs of ZW$2.1 million, ZW$5 million which is paid to creditors every month,” she said.

The treasury had to bail out the broadcaster with ZW$20 million after the later failed to pay September salaries. It was after ZBC had asked the treasury for a monthly bailout of $20 million for three months beginning October. Treasury also availed ZW$500 000 for the purchase of new equipment.

Government last month issued out six new Television licences which will see an end to ZBC monopoly. Analysts say if ZBC does not pull its socks up, it will suffer immense staff turnover as the new stations will poach from ZBC’s veteran broadcasters.

“ZBC is going to face serious competition which requires it to be smart. It must handsomely pay its workers to retain them and must improve its content to avoid viewer flight,” said Richard Chando, a media practitioner.