BBC Worldwide Ltd, the commercial arm and subsidiary of the British Broadcasting Corporation (BBC), has reported record profits for FY06-07. Profits were up 24 per cent at £111.1 million The highlights of the year include profits growth, strong international sales of hit shows and formats around the world, the refreshing of the company’s wholly owned channel portfolio, and laying the foundations for strong digital revenue growth.
After a review and re-organisation three years ago, the company is now focussing on profit and growth.
John Smith, Chief Executive of BBC Worldwide, said, “We have achieved a three-fold increase in profits over the last three years and exceeded expectations in most of our businesses over the past 12 months, reflecting healthy returns from our new channels business, strong TV catalogue sales and growing demand internationally for BBC formats. We are now investing to build our digital offering and strengthen our position in markets such as the US, China, India and Australia, creating one of the world’s premier content networks.”
Etienne de Villiers, Non-Executive Chairman of BBC Worldwide, said, “BBC Worldwide has reached a watershed. It has proven capable of delivering against demanding business plans with commercial efficiency; it now is poised to grow significantly with new product lines and in exciting markets.”
Mark Thompson, Director-General of the BBC, commented, “BBC Worldwide continues to deliver excellent returns for licence payers from the content they help fund us to make. Its success is increasingly critical to our ability to invest in original creative programming for audiences in the UK, and the company is playing major part in taking those programmes out to the rest of the world.”