TLDR version: FTA TV has now experienced two successive years in which revenues have declined significantly. This is driving a lot of internal cost-cutting, but one area where the industry is also seeking regulatory relief in spectrum taxation. Introduced as an interim measure in 2017, the CPI-indexed tax has grown significantly over the last two years, and remains in place. Despite the growing burden this places on an industry under obvious pressure, there is now a serious risk that CBT reform will be caught up in a broader discussion about the future of broadcasting spectrum and media regulation.