GBH eyes cost-cutting measures for Boston public station: ‘We are looking at a variety of ways to address this’
As Boston’s NPR station WBUR turns to buyouts amid a challenging financial situation, GBH’s leader says the public station is also looking at cost-cutting measures. Boston's public station, GBH, is considering cost-cutting measures amid a challenging financial situation. Susan Goldberg, president and CEO of the station, stated that while revenue is stable, the cost of doing business has increased. GBH has not implemented any buyouts or layoffs so far, while end-of-year bonuses have been eliminated across the organization. The station's total operating revenue was $269.6 million in the fiscal year that ended last June, resulting in a deficit of $18.6m and a decrease in net assets. Meanwhile, WBUR's on-air sponsorship income has dropped by about $7 million in recent years. This year's WBUR budget is around $45 million, so the station is aiming to cut spending by about 10%.
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As Boston’s NPR station WBUR turns to buyouts amid a challenging financial situation, GBH’s leader says the public station is also looking at cost-cutting measures.
GBH hasn’t implemented any buyouts or layoffs so far, while end-of-year bonuses have been eliminated across the organization.
“Although our revenue is stable, the cost of doing business has gone up for everyone, everywhere. So we are looking at a variety of ways to address this,” Susan Goldberg, president and CEO of GBH, said in a statement on Thursday.
“We’re not making a hiring freeze. We’re not making a wage freeze. We’re not doing buyouts. But no further decisions have been made yet,” Goldberg added. “As always, we are adapting our business to ensure we are best suited to meet the moment, serve the community and position GBH for the future.”
During the fiscal year that ended last June, GBH’s total operating expenses were $288.3 million, while the station’s total operating revenue came in at $269.6 million — for a deficit of $18.6 million. The total decrease in net assets was $15.3 million.
“Costs associated with providing trusted local and national programs are increasing, due in part to overall economic inflation,” reads GBH’s annual report. “Support for GBH continues to be strong but has not kept pace with expense growth.
“In FY23, we drew on strategic reserves generated from prior-year surpluses and are continually working on fundraising and expense-management efforts to deliver sustainable ongoing operations,” the report reads.
Meanwhile, WBUR’s on-air sponsorship income plummeted by about $7 million in recent years. As a result, WBUR is looking to begin the next fiscal year with a budget that’s at least $4 million lower than this year, CEO Margaret Low told staff members this week.
This year’s WBUR budget is around $45 million, so the station is aiming to cut spending by about 10%. Low said the station is first turning to voluntary buyouts before resorting to layoffs.
There have been many reports in recent months of buyouts and layoffs across the media landscape. That has included The Washington Post, The Wall Street Journal, and Los Angeles Times. Last month, NPR station WAMU in Washington, D.C., announced layoffs.
“I am so sorry to hear about the financial struggles at @WBUR, and of course at @GBHNews we are not immune either,” GBH investigations editor Paul Singer posted. “Boston is blessed with TWO world class public media outlets …. And we need your help to keep them both going strong.”