RTVE gets cash for ad reduction

In a period of advertising crisis, broadcasters suffer effects and that includes Spain's national public broadcaster Corporación Radio Televisión Española-RTVE. So Spain’s government will allocate €555.6 million to the public broadcaster next year, €55.26 million more than last year.

The increase was approved in the General Budget Law presented this week by the Ministry of Taxes and Economy.

New figures also include €94.3 million to subsidize the process of the former RTVE and its transformation into the present Corporation. RTVE will have next year a maximum of 10 minutes per hour of ads, one less than the present and one more than in 2010.

Luis Fernández, Corporación RTVE's president announced the expenses forecast for the public broadcaster would be €1.196 billion this year, the same as the broadcaster’s revenues. And for 2009 his forecasts are to spend less than this year and in 2010 even less than in 2009.

"We need austerity," he declared.