1 MAR 2024

BBC Studios takes full ownership of BritBox International

The deal involves the full ownership of BritBox International, acquiring ITV's 50% share for a cash consideration of £255 million.

1 MAR 2024

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In a historic deal, BBC Studios acquired the entirety of BritBox International, a specialized British content platform. The arrangement includes the acquisition of a 50% stake in British network ITV, estimated at £225 million. BritBox International is a streaming service specialized in British content scripted content. The service has grown subscribers by over 300% in the past four years, surpassing 3.75 million subscribers, and has an enterprise value of around £500 million.

As part of the transaction, BBC Studios has extended its licensing agreements with ITV, ensuring that programming for BritBox International will continue to represent a wide range of British content. BritBox International will become part of BBC Studios' Global Media and Streaming division, complementing its portfolio of digital and direct-to-consumer services that includes BBC.com, BBC Select, the BBC's premium ad-free documentary streaming service in North America, and BBC Podcast Premium, an audio service available in more than 160 countries.

Tom Fussell, BBC Studios CEO, framed the agreement as a way to enhance the value of the BBC: "This is an important acquisition for us. We are taking full ownership of a successful, growing service we know well and that fits with our stated ambition to double the size of our business. Britbox International has British content at its heart, and it generates and satisfies demand for British shows outside the UK. We will continue to make significant investments in the future to deliver long-term value to the BBC," commented.

Rebecca Glashow, BBC Studios Global Media & Streaming CEO, showed great enthusiasm about the deal's potential: "I am thrilled to further our involvement in BritBox International – it's a profitable business and a winning proposition. We see tremendous opportunity to grow this unique service and take it to even greater heights for its subscribers, with the full power of the BBC behind it," noted.

Following BritBox International's move into BBC Studios' Global Media & Streaming division, its global CEO, Reemah Sakaan, is stepping down. Sakaan has been an essential part of the company since the start, and for the past three years in the CEO role, she has overseen the venture's accelerated growth and creative success.