As it prepares to lobby in a potentially re-regulatory Democratic administration, and still facing the ongoing impact of the pandemic, the National Association of Broadcasters is going to have to hit up its members, themselves hard hit by the economic impact of COVID-19, for more money.
NAB has been pushing Congress for COVID-19 aid for more broadcasters, among other battles.
According to the association, the NAB board has voted unanimously to approve a one-time extra charge equivalent to a year's dues and payable over the next three years.
NAB said the charge is necessary to help compensate for the cancellation of the NAB Show, which represented 70% of NAB's operating budget, as well as "the expected decline in future convention revenues as the result of COVID-19."
In a letter to members letting them know about the extra charge, Hearst President and Joint Board Chair Jordan Wertlieb, joined by the TV and radio chairs, said the decision came only after much belt-tightening, including "cuts to executive compensation, significant budget reductions and instituting a hiring freeze."
But even with those, he said, member dues alone can't fund its efforts to defend the industry "As our nation prepares for possible changes in the government and we continue our ongoing battle against the pandemic."
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.