Tim Davie de BBC Studios
BBC Studios announced its 2019/2020 financial results following the completion of the audit process in August.
The company finished the last financial year in a position of strength, with sales up 17%, profit (EBITDA) up 14%, and BBC content investment up 19% for titles including His Dark Materials and Dracula, all at record levels. The business also had its best-ever year for content sales, up 21%. Returns to the BBC were up 14% on the previous year, with the dividend up 8% at £71m.
Since the year-end, the coronavirus pandemic has had a significant effect on BBC Studios’ activities and will impact its returns to the BBC this year 20/21.
Tom Fussell, the interim CEO of BBC Studios, said: “2019/20 was an outstanding year, and we’re extremely proud of how the BBC Studios team has worked together to deliver both brilliant content and record-breaking commercial returns, as well as a progressive culture. Since the year-end, the environment in which we operate has changed dramatically, but the performance of the business in 19/20 has given us a position of strength from which to weather the current challenging times. We have worked hard to protect and support our workforce, and we have seen over the past few months programs such as EastEnders, Top Gear, Dragon’s Den, and our new David Attenborough-fronted natural history landmark The Green Planet return to production, alongside the delivery of titles like A Suitable Boy made by our indie partner Lookout Point. We are working hand-in-hand with our major customers to help them understand and respond to the acceleration of changes in audience behavior and we will keep a careful eye on both investment and costs. I am confident that our relentless focus on the best of bold British creative will guide us through.”
Tim Davie, director-general of the BBC and former CEO of BBC Studios added: “Now more than ever, BBC Studios has a critical part to play in the BBC’s future. This ranges from keeping crucial sources of information like The One Show or Horizon on air during the lockdown, growing our award-winning center of excellence for natural history in Bristol, and building the global profile of exciting new brands like Bluey while continuing the evolution of much-loved ones like Top Gear or Doctor Who. These results show both successes for the business and put it on a good footing for future challenges.”
