New Delhi: BBC Worldwide Ltd, the commercial arm and wholly owned subsidiary of the British Broadcasting Corporation (BBC) published its Annual Review for 2006/07 and announced results for 12 months, up to 31st March 2007- profits are up 24% to £111.1million.
Further investment to develop the world’s premier content network are a priority as the global news and entertainment television channel activates all its creative hats.
The full-year results show in the 12 months to 31st March 2007, record pre-tax profits of £111.1m including exceptional items (2005/06: £89.4m), on sales of £810.4m including BBC Worldwide’s share of joint ventures (2005/06: £785.1m).
The proportion of sales to outside the UK was up by 5% year-on-year to 46%. Investment in BBC-commissioned programmes which was also up at £96.3m from £89.0m in 2005/06, with total programme investment at £103.6m.
Highlights of the year include continued strong profits growth and strong international sales of hit shows and formats around the world. This also lays the foundation for a strong digital revenue growth.
BBC Worldwide is the main commercial arm and wholly owned subsidiary of the BBC. Following a strategic review and re-organization three years ago, the company has focused itself on profit and growth.
It operates six businesses:Global Channels, Global TV Sales, Content and Production, Magazines, Home Entertainment and Digital Media. Both through its own operations and via partnerships and joint ventures, BBC Worldwide seeks to drive commercial benefit from rights and content on behalf of the BBC and other UK rights holders.
In the UK its products and services help to extend audiences’ appreciation of BBC programmes. Internationally the company promotes the best of British talent and culture across a wide range of media.
John Smith, Chief Executive of BBC Worldwide, said: “We have achieved three-fold increase in profits in the last three years and have exceeded expectations, reflecting healthy returns from new Channels business, strong TV catalogue sales and growing demand internationally for BBC formats. We are also investing in digital content and hoping to strengthen presence in US, China, India and Australia”