BBC Studios is laying the foundations for a profitability plan that includes a higher debt facility of US$763 million.
The commercial arm of the UK public broadcaster is busy developing a strategy on how to double its annual income by 2027/2028. This goal was previously outlined in a report. Financial report for July 2023. The company plans to select and develop more projects across all television genres, including children’s and family content.
BBC Studios is known for having some of the top franchises in children’s media worldwide. Bluey According to , it was the most streamed series for children in the U.S. last year, with approximately 44 billion minutes watched. Nielsen. (In fact, the show was her second most streamed show overall in the US, trailing only the legal drama.) suit.) From a broader brand activity perspective, Bluey also contributed to the segment’s impressive 10% year-over-year growth in consumer products revenue in 2023.
To prepare for further content investment activity, BBC Studios has not only increased its 2022 debt facility by 42% from US$445m, but also received government permission to increase its debt capacity to US$954m by 2027. There is.
Following last week’s announcement that Beeb’s commercial arm will acquire BritBox International streamer ITV’s stake for US$322 million, today’s news will be celebrated by UK children’s producers looking to cut commission costs and funding. Should. Other market challenges recently.
Tom Fassel, head of BBC Studios, said: financial timeHis division aims to generate annual revenues of US$4 billion and annual profits of US$572 million by 2027 (last year’s profits were about US$460 million).