The BBC has revealed plans for 2022/2023 and, at the same time, announced the appointment of founding partner of the global investment firm Permira Sir Damon Buffini as non executive chairman of the BBC Commercial Board, as it looks to build its commercial business to offset cuts.
As part of its annual plan, the BBC is introduce a new target for 25% of staff to come from low socio-economic backgrounds by 2027, to ensure the workforce is more representative of audiences .
The business plans are in the context of January’s announcement that the licence fee will be frozen for two years from 2022/23, then rise in line with inflation for the following four years.
Through “careful financial management”, the BBC plans to go into the coming year in a strong financial position to help navigate through the first year of the settlement. However, it will need to find £285m in annual savings across the corporation by 2027/28 as well as respond to ever-increasing superinflation in the media market.
The longer-term strategy – which will outline how the BBC can continue to be a successful organisation for the country for the rest of the Charter – and how it plans to manage these resource pressures in May.
As regards the the BBC Commercial Board, it will oversee BBC Studios, as well as the Corporation’s other commercial activity, including BBC Studioworks. The BBC has ambitious plans to grown BBC Studios.
Alongside Buffini, two new non executive directors will also join the current board. Bhav Singh and Gunjan Bhow. Singh has a consumer track record in digital media, education and technology, having led and scaled businesses internationally for ViacomCBS and Pearson. He is now the founder and Group CEO of the digital learning group Sandbox & Co. Bhow is an international leader in digital transformation. Most recently Global Chief Digital Officer for Walgreens Boots Alliance, he has also held senior leadership roles at The Walt Disney Studios and Amazon Prime Video.
On track to meet its goal of reaching 500m people outside the UK every week, it is looking to accelerate the digital transformation of the World Service.
Tim Davie, BBC Director-General, said:“The BBC is performing an indispensable role delivering impartial news around the world, with 456m people using our services globally every week and growing. This Annual Plan shows significant progress has been made to reform the BBC, but we will continue to transform the organisation to provide value for all audiences in the digital age.”
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