BBC Business increased EBITDA by 17% to £267 million ($357.1 million) within the 2025/26 financial 12 months, returning £377 million ($504.2 million) to the BBC as direct-to-consumer services and consumer products, led by “Bluey,” drove growth despite a difficult market.
Revenue remained flat at £2.2 billion ($2.94 billion), with growth in some areas offsetting decline in others. Statutory profit after tax rose 9% to £71 million ($95 million). The £377 million ($504.2 million) in returns – down from £391 million ($523 million) a 12 months earlier – included dividends of £197 million ($263.5 million), up from £161 million ($215.3 million), and content investment of £154 million ($206 million), down from £200 million ($267.5 million). The corporate stays heading in the right direction to fulfill its five-year goal of £1.5 billion ($2.01 billion) in returns to the BBC.
Tom Fussell, CEO of BBC Business, said: “2025/26 has been a powerful 12 months for BBC Business. We’ve grown profits and delivered significant returns to the BBC despite ongoing market pressures, while continuing to deliver creative excellence recognized world wide. Our diversified portfolio continues to position us well, with growth in some areas helping to offset softer performance in others, underpinning our overall resilience.”
BBC Studios, the corporate’s largest subsidiary, delivered revenue of £2.13 billion ($2.85 billion) and EBITDA growth of 17% to £263 million ($351.8 million), aided by a higher-margin sales mix and value savings from a brand new comprehensive cost review. The content studio posted stable revenue and a 42% EBITDA increase to £165 million ($220.7 million), with growth driven largely by “Bluey” partnerships and merchandise deals.
Storytelling and production work at BBC Studios earned 91 awards from 361 nominations across scripted and unscripted categories. “Death Valley” delivered the U.K.’s highest overnight audience for a brand new scripted comedy in five years and has sold to greater than 100 markets internationally.
Within the U.S., “Dancing with the Stars” drew its largest audience amongst adults 18 to 34 for any broadcast entertainment series because the “Friends” finale in 2004, with the show’s own finale pulling a 53% share in that demographic. “Bluey” was the most-streamed title within the U.S. for a second consecutive 12 months, logging greater than 45 billion minutes watched on Disney+, and remained the highest pre-school toy brand within the U.S. market. Other key titles included “The Americas,” “The Ballad of Wallis Island,” “Crookhaven” and natural history series “Kingdom” and “Prehistoric Planet: Ice Age.” Social video revenue climbed 23% 12 months over 12 months as watch time on YouTube nearly doubled to 14.7 billion annual views, ahead of world streamers and U.K. broadcasters.
BBC Studios’ media and streaming arm posted EBITDA of £104 million ($139.1 million), up 3%, supported by continued direct-to-consumer and business news momentum. BritBox revenue in North America grew 20%, while BBC Select revenue rose 61%. Within the U.K., UKTV achieved record viewing share and grew its U streaming platform, backed by a brand new multi-year carriage take care of Channel 4. BBC.com expanded to 149 million monthly users outside the U.K. and launched a paid U.S. subscription tier. The corporate’s FAST channel portfolio now spans 30 channel brands and greater than 300 feeds globally.
BBC Studios also published its annual Pay Gap Report, disclosing for the primary time data on deaf and neurodivergent employees alongside existing disability figures. The median gender pay gap fell 1.4 percentage points to 9.3%, with the ethnicity pay gap right down to 5% and the LGBTQ+ pay gap right down to 7.8%. At the person Profession Band level, 94% of employees in a given band showed a gender pay gap of lower than 3%, or one in favor of girls, while every Profession Band recorded an ethnicity pay gap under 1.5%.
Fussell said: “The figures in today’s report are encouraging, but there stays more work to do. We’re continuing to deliver on a series of initiatives to deal with areas of imbalance in our representation, which incorporates signing as much as the ‘We Are Doc’ Women’s Gender Pledge; working with the TV Access Projects Spaces & Places Workstream; and committing to the TV Foundations Class Confident initiative to assist address under representation of individuals from working-class backgrounds in the broader TV industry.”
BBC Business pointed to consolidation amongst industry players, reduced commissioning from traditional broadcasters and the continued shift from linear TV to on-demand viewing as continuing pressures, and said a supportive regulatory framework, as raised within the BBC’s response to the federal government’s Charter Review Green Paper, could be key to scaling further growth.
Upcoming titles include a brand new season of “Blue Planet,” together with “Sherwood,” “Deadpoint,” “Break Clause,” “Honey” and “Pride & Prejudice.”