The Fijian Broadcasting Corporation (FBC) has successfully decreased its dependence on the Public Service Broadcast (PSB) fee as revealed by its Chief Financial Officer, Vimlesh Sagar. Detailing the financial reports from 2018 to 2023 to the Standing Committee on Economic Affairs, Sagar highlighted a significant reduction in reliance on government funding, dropping from 64% to approximately 30%.
This reduced dependency aligns with FBC’s strategic goal of becoming a self-sustaining entity. The PSB fee, an annual government subsidy, supports FBC’s public broadcasting services through its two radio stations and FBC TV. The corporation is committed to fostering a sustainable business model rather than relying heavily on such fees.
Notably, the financial aid given to FBC in 2018 amounted to $11,277,400, which gradually decreased following the appointment of a new board in 2022. Despite the cut in government support, FBC recorded a gross income of $20.6 million in 2022. Even after foregoing $3.2 million in PSB fees, they made a notable profit of $555,000 for the 2024 financial year, underscoring their successful shift towards sustainability.
The initiative has been validated by Committee Chair and Assistant Minister in the Office of the Prime Minister, Sakiusa Tubuna, drawing attention to vast possible opportunities for FBC and other media organizations to reduce government dependency.
This shift follows broader governmental moves to diversify and democratize public service broadcasting across various media companies, promoting fairness and competition within Fiji’s media landscape. Recently, Prime Minister Sitiveni Rabuka announced funding allocations aimed at reducing the overall dependence on PSB fees for different media organizations, signifying a more inclusive and competitive media environment for the nation.
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