BBC Worldwide reports record profits

BBC commercial arm BBC Worldwide says it has delivered “record profits” for the 12 months to March 31. It says pretax profits are up 24% to £111.1m and that it will focus on digital acquisitions over the next year. Sales rose to £810.4m from £785.1m.

BBC Worldwide chief executive John Smith says the wholly owned BBC division has achieved a three-fold increase in profits over the last three years.

He says: “We have 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.”

BBC Worldwide has 28 channels in more than 259 million homes around the world, broadcasting in 15 different languages. It operates six businesses: global channels, global TV sales, content and production, magazines, home entertainment and digital media.

Earlier this year Smith revealed BBC Worldwide would focus on profit and growth following a strategic review and reorganisation.

This week Smith waived his incentive bonus, as did other BBC executives including director general Mark Thompson, despite being part of the commercial wing of the corporation.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here