Sky News Cuts Freelancer Budget Amid Viewer Decline

Sky News, a prominent news broadcaster, has initiated budget cuts affecting its freelance workforce in response to a downturn in viewership figures. Reports from The Telegraph indicate a noticeable reduction in the engagement of freelancers across various roles such as producers and guest bookers. Employees have observed a significant decrease in available shifts over the past few months.

The decline in audience numbers has been concerning, with Sky’s The News Hour hosted by Mark Austin attracting only 47,000 viewers, a fraction of the 165,000 viewers tuning into BBC News at Six. Similarly, the recently launched evening news program The World with Yalda Hakim has been averaging around 60,000 viewers, compared to over 100,000 viewers for BBC News in the same time slot.

The morale among staff members at Sky News has taken a hit as management aims to improve viewership while implementing cost-cutting measures. The future of Sky News has come into question as the channel, with an annual budget exceeding £100 million, continues to incur substantial losses.

US media giant Comcast, which acquired Sky News as part of a multi-billion dollar deal, has guaranteed funding for the channel until 2028. Despite assurances from Sky News executive chairman David Rhodes that the channel remains a critical component, concerns linger over its financial sustainability in the long run.

In the wake of a broader shift towards streaming platforms and social media, Sky News faces challenges from innovative competitors like GB News and TalkTV, both grappling with financial losses. The freelancer cutbacks at Sky News coincide with wider job cuts across the company as it transitions towards a streaming-focused business model.

A spokesperson for Sky News noted that spending has increased by 10% compared to the previous year, highlighting ongoing efforts to adapt to the evolving media landscape.