Friday, 21 July 2017

BBC Worldwide's profits rose 18% in 2016-7

"BBC Worldwide – the commercial arm of the Corporation – has revealed its financial results for 2016/17, showing an increase in both headline sales and headline profits, and sustaining cash returns to the BBC above £200 million (€226m) for a third successive year.
Tim Davie, CEO of BBC Worldwide and Director, Global, said: “By concentrating our efforts around core areas of growth and being bold in our transformation ambition, BBC Worldwide has delivered another strong year of results. Ever-closer relationships with producers, driving excellent content, along with acute customer focus, creative deal-making and strategic partnerships, are together enabling us to navigate the rapid shifts in the markets where we operate.
Headline sales of £1.0599 billion [€1.1977bn] (2015/16: £1.0294bn) and headline profit of £157.3 million (2015/16: £133.8m) were up 3.0 per cent and 17.6 per cent respectively. Organic headline profit growth was 6.4 per cent and all four regional segments reported growth in headline profit. These results reflect good Content Sales, with sales to SVoD services remaining buoyant; an excellent performance from Branded Services, including the UKTV and BBC AMERICA channel JVs; and beneficial foreign exchange movements.
Strong demand from VoD clients helped BBC Worldwide pass its internal revenue target of £400 million in content sales one year early, at £422.4 million (2015/16: £384.2m), up 9.9 per cent, maintaining its position as the leading global distributor outside the US studios."
Source:  Advanced Television, 19th July 2017

No comments: