RTS OPERATES DEEP IN THE RED: Despite massive revenue, the public broadcaster owes millions in loans!

Although Radio Television of Serbia (RTS) brings in an annual income comparable to a highly successful company closely tied to the ruling Serbian Progressive Party—one that typically reports multi-million-euro profits—RTS continues to operate at a significant loss.

According to official financial data, RTS earned an impressive €134 million in 2024, yet still ended the year with a deficit of around €2.6 million. And that’s not all: in the years ahead, the public broadcaster faces the repayment of at least two major loans totaling nearly €12 million.

Despite its financial potential, RTS—currently under blockade by protesting students—struggles to achieve both financial stability and fulfill its role as a true public service broadcaster. Many critics argue it serves more as a state-controlled media outlet than as a voice for the public, and its financial woes only reinforce that picture.

The latest financial report reveals a troubling picture. In 2024, RTS collected 15,711,169,000 dinars—roughly €134 million—but still failed to turn a profit. The final balance sheet shows a loss of 310,301,000 dinars, or approximately €2.6 million.

As 2025 begins, RTS is not only starting in the red but is also saddled with debt. Official documentation confirms that the broadcaster must repay a €11.7 million loan from the Ministry of Finance, issued due to “a continued lack of funds during the transition from budget-based funding to funding from RTV subscriptions and fees.”

In addition, RTS owes Bank Intesa about €500,000, and carries a long-term leasing liability of approximately €180,000.

Despite the red ink, money has poured in from multiple sources. RTS is primarily funded by citizen-paid RTV subscription fees, which brought in 11.2 billion dinars (about €95.8 million) in 2024. Advertising revenue added another €28 million.

One of the broadcaster’s biggest challenges is its massive workforce: RTS employs 2,428 people. After taxes and contributions, this translates to an average monthly salary of around 135,000 dinars (approx. €1,150). Not included in this figure are external collaborators. In 2024, RTS paid out nearly €4.8 million for freelance and author-related contracts, with an additional €1.1 million going to temporary and occasional work agreements.

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A considerable drain on the budget comes from intangible expenses, which reached 1.2 billion dinars (€10.2 million). These include:

€2.8 million for copyright fees paid to SOKOJ (Serbian Organization of Music Authors),
€970,000 for cleaning services,
€1.4 million for phonogram copyrights,
and other miscellaneous costs.

Another major cost category is production services, totaling 5.3 billion dinars (€45.1 million) in 2024. The largest share—€23.1 million—went to sports broadcasting rights, including installments for: