Rai Approves the 2023 Budget: A Look into the Future
The Board of Directors of Rai, the Italian public broadcasting company, has given the green light to the budget for 2023. The meeting, held in Rome under the presidency of Marinella Soldi, examined and approved the financial plan presented by CEO Roberto Sergio.
The budget reveals a consolidated net result at break-even and a net debt of €568 million, an improvement compared to the previous year, and nevertheless at sustainable levels. The average net debt for 2023 was €328 million.
Thanks to the absence of costs related to major sporting events and a continued focus on cost optimization, the management of Rai Group in 2023 was able to allocate more resources to strengthening and repositioning its offerings. Additionally, they financed an extraordinary incentive plan aimed at updating digital skills, in line with the company’s evolution into a digital media company.
Despite the absence of major sporting events, the advertising revenues have increased by over €22 million. This growth was mainly driven by a significant increase in web revenues (+31.6%), thanks to the outstanding performance of RaiPlay.
On the revenue front, there has been a decrease in ordinary fees, primarily due to a significant increase in non-payment of electricity bills linked to the complexity of the socio-economic context.
Rai Group continues to lead in prime time television with a 37.8% share and maintains an overall share of 37% throughout the day. Rai 1 remains the top national channel both in 24-hour viewership (18.3%) and in prime time viewership (20.4%). It dominates the rankings in genres such as fiction, cinema, culture, science, and environment. Rai 1 also ranks as the second European channel after BBC One.
In terms of digital offerings, an average of 19.4 million users connected to one of Rai’s various websites or apps at least once a month, accounting for 44% of the active internet population. This represents a significant increase compared to 2022 (+37%). RaiNews.it, the news portal, had an average monthly user base of around 12.2 million, ranking 10th among current events and global news offerings measured by Audicom.
In 2023, 13% of total social media interactions among publishers were related to Rai’s programming, with a total of 204 million interactions.
RaiPlay continues to show positive trends, with significantly positive data in 2023. It had an average of 11.1 million unique users per month (+18% compared to the previous year) and an average viewing time of 2 hours and 29 minutes. The most popular genre on RaiPlay remains fiction, accounting for 50% of total on-demand views, confirming the high quality of Rai’s content.
Regarding television viewership on digital devices (both through browsers and apps), Rai accounted for 32% of Total Time Spent (TTS). In linear viewing mode, Rai represents 18% of the market, while in on-demand mode, it reaches 44%, with a total of 445 million hours viewed. The most-watched program in on-demand mode was “Mare Fuori” with 72.3 million hours viewed.
Rai Radio continues to attract a mature and educated audience with its rich and varied editorial content, including news, in-depth analysis, service content, culture, sports, and intelligent entertainment. In 2023, it achieved an overall satisfaction rating of 8.0 on a scale of 1 to 10. In terms of audio and podcasts, Rai Play Sound recorded 440,000 downloads within a diverse offering targeted at a younger audience interested in digital entertainment.
During the same meeting, the Board of Directors unanimously approved the 2023 Sustainability Report. This document showcases the results achieved by the Rai Group in terms of sustainable development, both internally and in its impact on citizens. It analyzes the social, environmental, and governance aspects of the company’s activities, collectively referred to as ESG. The annual report, which will report on the initiatives outlined in the recently approved 2024-2026 Sustainability Plan starting from 2024, aims to inform all stakeholders, both institutional and non-institutional, about how Rai fulfills its obligations under the Service Contract and raises awareness among users about the sustainability goals defined in the UN’s 2030 agenda.
The Board of Directors also took note of the summer 2024 programming lineup. The main theme will be sports, with Rai 1 and Rai 2 broadcasting events such as the European Football Championship, the Olympics and Paralympics, and the Tour de France.
Overall, Rai’s financial results for 2023 indicate a positive outlook for the company. With a focus on digital expansion and a strong presence in traditional television, Rai continues to be a leading player in the Italian media landscape.