6 JUL 2021

BBC STUDIOS’ REVENUE PLUMMETS BY $41 MILLION

The studios' total revenue declined by 10% to £1.25B, earning an EBITDA of £151 million, equivalent to $209 million all throughout last year. The network's license fee-funded commercials returned, with the company committing to an investment of £137 million.

6 JUL 2021

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BBC Studios recently reported a massive earnings loss. “Behind the numbers, we are releasing today is a superhuman, collective effort to support our customers around the world, with most of us working in difficult and dynamic circumstances to deliver the very best British content,” BBC Studios interim CEO Tom Fussell said. 

The BBC’s commercial division, credited with creating “Doctor Who” and “Good Omens,” unveiled an EBITDA of £151 million, equivalent to $209 million, throughout the year, counting until the end of March. The figure represents a £30M ($41M), or 17% difference between the same period last year. All in all, the company's total revenue dropped by 10% to £1.25B, according to the BBC’s annual report.

Like many of its competittors, the global studio BBC Studios cut its resources and productions by half of its entirety amid the pandemic. Despite the company's current financial status, BBC chairman Richard Sharp said BBC Studios had a “better year than anticipated," with 17% profit hit compared favorably to other major European studios. ITV Studios was one of the first producers to highlighting the damage, revealing in March that its EBITA dropped 43% to £152M in 2020. 

"Too Hot To Handle" producer Fremantle's EBITA reached €87M in the full year 2020, down 39% on €142M in 2019. Performers who surpassed the network include Banijay, whose EBITDA dropped 13% from €385M in 2019 to €334M) and Red Arrow Studios (EBITDA fell 12.6% to €42M last year).

BBC Studios’ commercial return to the license fee-funded BBC was £137M in 2020/21, which declined by 50% of the previous 12 months. BBC Studios said that it remains on course to deliver commercial returns of £1.2B to the BBC by March 2022. “Thanks to a quicker than expected recovery in the global media industry, particularly advertising, along with some careful cost controls, we are in a very strong position to deliver on significant commercial ambition and meet the new target of £1.5bn set by the BBC over the five years from 21/22.”

 

 

Behind the numbers, we are releasing today is a superhuman, collective effort to support our customers around the world, with most of us working in difficult and dynamic circumstances to deliver the very best British content.” Tom Fussell Interim CEO, BBC Studios