LONDON: The BBC said it will cut more than 1,000 jobs because it expects to receive $234 million less than forecast from the licence fee next financial year as viewers turn off televisions and watch programmes on the Internet.
Every UK household with a television has to pay £145.50 a year to the BBC, a public service broadcaster which was founded in 1922. "The licence fee income in 2016/17 is now forecast to be £150 million less than it was expected to be in 2011," the BBC said in a statement.
Read: BBC curates social media conversation around Ramazan
"This is because as more people use iPlayer, mobiles and online catch-up, the number of households owning televisions is falling. It also provides further evidence of the need for the licence fee to be modernised to cover digital services."
Read: Cameron tells BBC to stop referring to ISIL as 'Islamic State'
Only 69% of viewing by British adults is now through live TV and among 16 to 24-year-olds, only 50% of viewing is done through live TV, the country's telecoms regulator said.