BBC Studios Posts Record Returns


In the first full financial year since the merger with BBC Worldwide, BBC Studios has delivered record returns of £243 million ($307 million) to the BBC, up from £210 million ($265 million) the previous year.

EBITDA for the 2018-19 fiscal year was up 51 percent to £159 million ($201 million) on revenues that were down slightly to £1.4 billion ($1.8 billion).

BBC Studios made almost 2,000 hours of content for British audiences and secured 15 third-party commissions around the world in the 2018-19 period. New commissions include One Cup, A Thousand Stories (working title), for China Mobile’s Migu. This is BBC Studios Productions’ first direct commission in China. BBC Studios’ Natural History Unit yesterday revealed a commission for Quibi for Fierce Queens (working title).

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 commercialization. An extremely strong program slate has seen high-quality and award-winning British content like Dynasties, Les Misérables, Famalam and the Festival of Remembrance play out across U.K. screens and internationally. Our financial performance, with record returns to both the BBC and to indie partners, underpins this creative success.

“The markets in which BBC Studios operates remain changeable, but we know there is strong demand for premium, inspiring content—with forthcoming shows like Seven Worlds, One Planet and The Left Behind setting the standard within the industry. Our business is firmly focused on investing in talent, rights and ideas, growing our partnerships around the world, evolving our culture, creativity, diversity and innovation, and ensuring we are well positioned to meet this demand and boost our ongoing contributions to the BBC and the wider creative industry.”

BBC Studios says it is “well on track” to meet its target of £1.2 billion ($1.5 billion) of financial returns to the BBC by year five of the current Charter.