BBC Studios has announced its first financial results since the amalgamation of BBC Worldwide and BBC Studios. Its 2018/2019 financial results show programme investment and dividends of £243 million (2017/18: £210 million).
In the first full financial year for the merged business, EBITDA were up 51% at £159 million (2017/18: £105 million) on headline sales of £1,373 million (2017/18: £1,411 million). The business made nearly 2,000 hours of programming for the UK audience, secured 15 new commissions for third parties around the world, including Inside the Duchy for ITV, Danny Dyer on Pinter for Sky Arts and Stay Free: The Story of the Clash for Spotify. BBC Studios-produced programmes like one-off drama Killed By My Debt, Strictly Come Dancing and live coverage of the Royal Wedding garnered some 79 award wins for the year, from nearly 300 nominations.
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. An extremely strong programme slate has seen high quality and award-winning British content like Dynasties, Les Misérables, Famalam and the Festival of Remembrance play out across UK 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.”
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