NPR Sees Deficit For Fiscal 2012
November 26, 2012 at 3:57 AM (PT)
NATIONAL PUBLIC RADIO fell from $2.4 million in profits in 2011 to a deficit of $6.2 million in fiscal 2012, reports CURRENT.ORG. The fall was attributed to an $8.6 million drop in sponsorship revenues due to high churn (45%) among corporate clients and spending cuts by large underwriters.
“We had a very aggressive goal for 2012,” said NPR's STEPHEN MOSS told CURRENT. “Looking at the performance of the previous two years, we felt like there was a lot of momentum there. And, while we did see some positive signs in 2012, we also saw some pullback in certain areas.” Among the cutbacks that undermined NPR's goal was ALLY BANK pulling out of its sponsorship of "PLANET MONEY" at the conclusion of its three-year contract.
On the bright side, fundraising was ahead of its goal by 5% ($31.2 million) and individual gifts rose 18% to $10.3 million. For fiscal 2013, the network expects sponsorship revenues of $47.8 million, with 82% of that ($39 million) in radio spot sales.