Tags: Coronavirus | npr | costs | budget | deficit

NPR to Dramatically Cut Costs Due to Pandemic

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(Dreamstime)

By    |   Friday, 17 April 2020 02:52 PM

National Public Radio will slash its costs in an effort to diminish a growing budget deficit due to the ongoing coronavirus crisis, according to an internal memo from CEO John Lansing obtained by The Wall Street Journal.

Lansing informed staff on Wednesday that the company is looking at a budget deficit of anywhere from $30 million to $45 million through fiscal year 2021, noting that sponsorship money has shrunk due to “a very tough marketplace,” and donations will likely decrease since typical donors "will be thinking hard about gifts as they watch the swings in the values of their own portfolios."

"We do not have any position eliminations on the table now, and it is our goal to avoid them as much as is reasonably possible," Lansing wrote. "However, I don't have a crystal ball so I can't guarantee anything other than that is my intent."

"Other news organizations are taking some drastic steps right now to deal with their finances," he continued. "They need to return profits to investors. We don't. But we do need to survive financially, and ensure NPR can continue to serve stations and the public for the coming years, so all of our resources go toward public service."

NPR said in a statement that it "is taking a significant budget hit because of the economic lockdown due to the Covid-19 pandemic. We do not have a profit motive or shareholders to serve like commercial media, so all of our resources go toward public service."

The network added, "We will continue to manage our budgets closely across the organization — our main priority is to preserve jobs. During this pandemic and beyond, NPR will continue to provide an essential public service to audiences across platforms.”

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National Public Radio will slash its costs in an effort to diminish a growing budget deficit due to the ongoing coronavirus crisis, according to an internal memo from CEO John Lansing obtained by The Wall Street Journal. Lansing informed staff on Wednesday that...
npr, costs, budget, deficit
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2020-52-17
Friday, 17 April 2020 02:52 PM
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