Source · Select Committees · Public Accounts Committee
Recommendation 21
21
Accepted in Part
Strong BBC brand and international appeal underpin successful monetisation of intellectual property.
Conclusion
The BBC pointed to specific examples to illustrate the commercial value that successful IP could generate, highlighting its global rights to ‘Bluey’ as having created “enormous value,” alongside other diversified commercial assets such as BritBox International.46 The BBC also stressed that the strength of its brand underpinned the monetisation of IP across its activities, reinforcing the strategic emphasis it placed on owning and developing titles that could travel internationally. In this context, the BBC maintained that building a stronger IP portfolio was integral to securing sustainable longterm returns from content after its first broadcast or release in the UK.47
Government Response Summary
The Committee highlighted the commercial value that successful IP could generate for the BBC, including global rights to ‘Bluey’. The BBC will ensure that BBC Commercial’s overall returns including dividends to the BBC Group are published annually in its Annual Report and Accounts.
Government Response
Accepted in Part
HM Government
Accepted in Part
3.1 The BBC partially agrees with the Committee’s recommendation. Target implementation date: 2026 aligned with Ofcom and BBC Annual Report and Accounts publication. 3.2 The BBC is committed to report whatever is required under accounting regulations. While the BBC already also provides a substantial amount of information on its commercial activities in its Annual Report and Accounts, it will ensure that BBC Commercial’s overall returns including dividends to the BBC Group are published annually in its Annual Report and Accounts. 3.3 The BBC Group already reports annually to Ofcom who monitor its commercial activities. Annual reporting to Ofcom includes detailed financial performance of BBC Studios and BBC Studioworks, its two core commercial businesses, including revenue, direct and common costs, and therefore both Gross Profit and percentage profit margin (Earnings Before Interest, Taxes, Depreciation, and Amortisation). The BBC Group’s reporting obligations to Ofcom are detailed in the BBC’s Annual Report and Accounts, along with its other general duties in relation to commercial activities.