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BBC Worldwide £1bn sales despite America sale

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BBC Worldwide has announced its 2015/16 financial results claiming returns to the BBC above the £200 million (237m) level and ‘continued transformation of the company and further investment in both the company and the wider UK creative industries.’

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The results include the impact of the first full year without 100 per cent ownership of BBC AMERICA, following the part disposal of the channel to AMC Networks in October 2014. The most significant impact of this part-sale was seen in headline profit, down 3.5 per cent to £133.8 million (2014/15: £138.6 million). However, removing the effects of the BBC AMERICA deal, the company delivered good underlying growth both in headline sales and profit. Headline sales of £1,029.4 million (2014/15: £1,001.8 million) were up 2.8 per cent, or 6.7 per cent on an underlying basis, and ahead of industry growth. Headline profit was up 4 per cent adjusted for the impact of BBC AMERICA, in spite of ongoing investment in the transformation of our BBC-branded channel portfolio, development of new direct-to-consumer digital services and a further increase in content costs.

Tim Davie, Chief Executive, BBC Worldwide and Director, Global said: “This year’s results are due to  strategic focus and exceptional content, creatively commercialised.
Despite operating in an increasingly challenging environment, we have held onto our ambition to transform the business, deepening our unrivalled content slate, while increasing our support to the BBC and the wider UK creative industries. All these elements played their part in delivering a good set of results and ensuring we enter the new year from a good place.”

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