In its first full year since the merger of BBC Worldwide and BBC Studios, the combined BBC Studios saw EBITDA up 51% at £159 million.
BBC Studios, the BBC’s wholly-owned commercial subsidiary formed by the 2018 merger of BBC Worldwide and BBC Studios, made nearly 2,000 hours of programming for the UK audience and secured 15 new commissions for third parties around the world.
In Branded Services, which includes the channels business, saw EBITDA grow 16% reflecting healthy performances from BBC America and BritBox in the United States and Canada. The two are half a million subscribers ahead of target.
UKTV in the UK gave a robust performance and new deals were struck for BBC Learning, BBC Earth, BBC First and BBC Living around the world.
Tim Davie, CEO of BBC Studios said: “It has been an excellent year for BBC Studios, both creatively and financially. Two separate subsidiaries have combined swiftly and efficiently to create a new British studio operating on the world stage, able to take ideas seamlessly through funding, creation, distribution and commercialisation.”
Meanwhile, BBC Global News, the BBC’s commercial, international news subsidiary which operates the 24 hour news channel BBC World News and its digital counterpart BBC.com, has posted profits of £8 million.
Jim Egan, CEO of BBC Global News, said, “Far from being outdated or irrelevant, our long-standing commitment to trust and credibility is more highly valued by our audiences and clients around the world than ever before. In a landscape where single issue, agenda-driven or simply fake news is becoming increasingly commonplace, it’s vital to ensure that there is a quality alternative which is truly impartial, accurate and independent.”
BBC World News’ global footprint continued to expand, growing by 2% over the year. BBC World News television is available in more than 200 countries and territories worldwide, and over 465 million households and 3 million hotel rooms. Growth of 2% was driven by gains in the Americas and South Asia.