BBC Worldwide reports record profits

by Sarah Crawley-Boevey , Media Week 28-Jun-07, 13:45

LONDON - BBC Worldwide has announced record profits for the 12 months to 31 March, with a pre-tax rise of 24% to £111.1m, which includes a 5% rise in international sales to 46%.

The organisation reports an investment in BBC-commissioned programmes of £96.3m from £89m, with total programme investment at £103.6m.
The figures show a three-fold increase in profits in the last three years, which chief executive John Smith said had "exceeded expectations" in most of the organisation's business over the last year.

"We are now investing to build our digital offering and strengthen our position in markets such as the US, China, India and Australia, creating one of the world's premier content networks," he said.

BBC Worldwide, which underwent a strategic review three years ago, operates six businesses including global channels, content and production and digital media and works to drive commercial benefit from rights and content on behalf of the BBC and other UK rights holders, promoting the "best of British talent and culture across a wide range of media".
Mark Thompson, director-general of the BBC, said BBC Worldwide's success was "increasingly critical" to the corporation's capacity to invest in "original creative programming for audiences in the UK".