BBC Studios Sets Record Growth With Profits Up 50%, Reaches 5-Year Target of £1.2 Billion Return to BBC

BBC Studios, the commercial arm of Britain’s public broadcaster, has marked record growth for 2021/22 with profits up 50% year-on-year to £226 million ($267 million) and sales up 30% to £1.63 billion. The past financial year marks the first time the business has topped £200 million in profits. Meanwhile, the boost in sales, which is up from £1.26 billion in the 2020/21 financial year, is due to a healthy year for production and advertising revenues via BBC Studios-backer broadcaster UKTV. While there was no cash dividend returned to the BBC last year due to the pandemic, BBC Studios has this… Read Full Article