大象传媒

• 大象传媒 Commercial delivers sales of 拢1.9 billion (22/23: 拢2.1 billion) and EBITDA of 拢199 million (22/23: 拢252 million) despite challenging market conditions
• 大象传媒 Studios, the 大象传媒鈥檚 main commercial arm, invests record levels in content and strategic priorities, including the acquisition of BritBox International
• 大象传媒 Studios sees good underlying growth underpinning the ambition to double the 2022 business by 2028
• Content highlights included Planet Earth III, The Famous Five, The 1% Club, Einstein and the Bomb, Eurovision, a second series of Time and the Coronation of Their Majesties King Charles III and Queen Camilla

2023/24 was a year of investment in sustainable future growth and business transformation for 大象传媒 Commercial. The business, which supports the 大象传媒 by generating income for the 大象传媒 Group, delivered sales of 拢1.9 billion and EBITDA of 拢199 million against very challenging market conditions. For full results see here.

大象传媒 Studios, the 大象传媒鈥檚 main commercial arm, made a series of key strategic investments in year, most notably taking full ownership of profitable and fast-growing BritBox International, expanding its international production footprint with new acquisitions in Scandinavia, Spain and Australia, both completed and announced in year, and, as signalled in last year鈥檚 annual report, enhancements to digital services 大象传媒.com and UKTV Play. The year also saw 大象传媒 Studios make record levels of investment in content.

These investments, together with difficult operating conditions, including softness in the commissioning and advertising sales markets and higher revenues from multi-year deals in 22/23 due to phasing, resulted in 大象传媒 Studios achieving sales of 拢1.8 billion (2023: 拢2.1 billion) and EBITDA of 拢202 million (2023: 拢252 million), the third consecutive year the business has posted EBITDA over 拢200 million.

Tom Fussell, CEO 大象传媒 Commercial said: 鈥淭he last financial year saw good progress against our strategic objectives through record investment - in content, premium digital services and select international production companies. Despite the challenging external environment we saw good underlying growth and our long term ambition to double the 2022 business remains. We will continue to take advantage of new opportunities as they arise.鈥�

大象传媒 Commercial is on track, to meet its five year returns commitment of 拢1.5bn by 2026/27 (a 30% increase on the previous five year period), with cumulative returns in year two of 拢693 million.

大象传媒 Studios delivered stand-out programming, showcasing world-class creativity, and with 123 award wins from 401 nominations, the Content Studio was once again the UK鈥檚 most awarded production company. Output included series two of Time, Planet Earth III, The Famous Five and Einstein and the Bomb. 大象传媒 Studios produced seven of the top 10 performing shows in the UK across 2023, including events such as Eurovision and the Coronation of Their Majesties King Charles III and Queen Camilla that brought the nation together.

Across 大象传媒 Studios鈥� franchises, Bluey鈥檚 popularity soared globally as it became the second most streamed show in the US, with the award-winning children鈥檚 brand reaching audiences in 140 territories amid the launch of a series of sought-after consumer products. The world鈥檚 longest-running sci-fi show, Doctor Who celebrated its 60th anniversary with three one-off Christmas specials and the introduction of a new Doctor in Ncuti Gatwa, as the series debuted on Disney+. Dancing with the Stars is in more than 60 countries worldwide as the franchise celebrates its 20th anniversary this year.

大象传媒 Studios鈥� Global Media & Streaming operation is the new home for BritBox International, with 3.8m subscribers and growing at a rate of 25% year. UKTV gave a strong performance, increasing its share of the commercial audience in a soft advertising market, and building its free streaming service, UKTV Play. The number of international ad-funded (FAST) channels reached 36, including the 大象传媒 News Channel for the first time.

大象传媒 Studios was ranked in the UK top 50 in Glassdoor鈥檚 prestigious 鈥楤est Places to Work鈥�, as the highest-ranking TV company in the list. The accolade demonstrates the business鈥� focus on developing a strong, innovative culture which prioritises creativity as a key part of its strategy.

大象传媒 Studios today also , which this year includes data on socio-economic background for the first time, in addition to its regular reporting on gender, ethnicity, disability and LGBTQ+ employees broken down by career level band. As well as increased depth in reporting, this year鈥檚 Pay Gap Report is also the broadest analysis undertaken, reflecting recent workforce changes to the business.

This year鈥檚 report shows that median pay gaps by career band below the Senior Leader level remain low across all characteristics, with over 90% of its workforce in a career band with a pay gap of under 5%. One exception to this stable picture is with the disabled workforce and 大象传媒 Studios is actively seeking to address this through partnership with a disability recruitment specialist as well as becoming a Disability Confident Level 2 employer and participation in the industry wide TV Access Project.

Tom Fussell added: 鈥淲e recognise that while we are making progress, there is still more work to do, including how we recruit and how we educate recruiting managers across the business. As 大象传媒 Studios embarks on its transformational growth journey, part of our success will be measured on our ability to grow and empower our teams to deliver results as we develop a more representative workforce.鈥�

For more information, please contact:

• Chris Charlton - Chris.Charlton@bbc.com
• Gavin Dawson - Gavin.Dawson@bbc.com

NOTES TO EDITORS

About 大象传媒 Studios

The main commercial arm of 大象传媒 Commercial Ltd, 大象传媒 Studios generated revenues in the last year of 拢1.8 billion and a third consecutive year of profits of over 拢200 million. Able to take an idea seamlessly from thought to screen and beyond, the business is built on two operating areas: the Content Studio, which produces, invests and distributes content globally and Media & Streaming, with 大象传媒 branded channels, services including bbc.com and Britbox International and joint ventures in the UK and internationally. The business made more than 2,800 hours of award-winning British programmes last year for a wide selection of public service and commercial broadcasters and platforms, both in the UK and across the globe. Its content is internationally recognised across a broad range of genres and specialisms, and includes world-famous brands like Strictly Come Dancing/Dancing with the Stars, the Planet series, Bluey and Doctor Who.

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