In its annual report, the BBC today revealed it has reduced talent pay by £9.5M ($14.8M) in the last year. There are still a handful of show hosts earning more than £1M, but an austerity drive is aiming to keep paydays in check. On the executive side, outgoing director general Mark Thompson took a £157K pay cut this year, but still earned 15 times more than the average BBC employee. Total income was £5.086B in 2011/12, up a touch from £4.993B in the previous period. Spend in the creative economy was also up, to £489M versus £467M a year earlier. But, the group said it will keep current levels of spend on BBC1 and reduce spending on BBC2’s daytime schedule. In the past year, the BBC has cut its senior managers by 24.4% and has achieved efficiency savings of £500M. In total, the broadcaster is looking to deliver £700M in savings per year by 2016/17.