The industry has struggled to find its footing, with new models, content, technology and even the name of the BBC having become synonymous with its demise.
Now, the broadcaster has announced that it has taken a $3.8 million write-down to restructure its core operations in an attempt to create a more stable future for the broadcaster.
The restructuring, dubbed the RTE UK and Ireland, will be funded through an investment of €2.2 billion in a number of areas.
It will involve the creation of a new strategic partnership with a range of businesses and will see a number existing roles and responsibilities in the company reduced, the RTV group said in a statement.
RTE chief executive Stephen Nolan said the restructuring would allow the broadcaster to “continue to develop and innovate in a much more sustainable way”.
He said the new funding would support the broadcaster’s strategy of “making sure it’s in a position to attract and retain talent”.
The restructuring follows an announcement by the BBC earlier this year that it was seeking to reduce costs by €8 million in order to “build a more sustainable business model for the future”.
RTE’s UK and Irish operations were split into two separate entities, with the latter being more heavily staffed than the former.
“This restructuring will allow us to create an even more robust and profitable future for RTE, and the BBC in particular, while continuing to attract a range the world’s best creative talent,” Nolan said.
The BBC has had its share of troubles over the past few years, with several former staff leaving or being sacked amid the corporation’s funding problems.
In July last year, the corporation announced it was closing the broadcaster, with Nolan saying the corporation had made “significant cuts” since it was launched in 2007.
“It is no longer appropriate to keep this organisation running, so we are looking at options for what we can do,” he said at the time.
The RTE group said the £2.3 billion restructuring will be financed through an “investment of €4 billion in new strategic partnerships”.
The group’s new investment will see RTE expand its existing production and distribution business to include “new channels and services” and will also support the launch of a series of new products, the statement said.
RTV said the decision to seek out the restructuring was “a long-term investment in our future”.
The broadcaster’s UK-based operations will remain “under constant review”, the statement added.
“We are also in discussions with existing RTE customers and will be working closely with our existing customers in the future to bring the Rte brand and products to a wider audience,” it said.