Overview
- The BBC's content budget for the next 12 months will decrease by £150 million, reducing its total content spend to £2.5 billion.
- A £33 million deficit was reported for the year, attributed to delayed transformation costs, despite earlier projections of a surplus.
- The broadcaster has lost £1 billion in real-terms income since 2010, driven by frozen licence fees, inflation, and declining co-production partnerships with global streamers.
- Plans include relocating more creative spending and programming outside London to better reflect diverse UK audiences and investing in artificial intelligence while acknowledging its risks.
- The BBC reaffirmed its role as the leading creator of British content, with research showing it is more representative of UK lives than competitors like Netflix.