BBC Studios needs fresh ideas if it is to take on Netflix, says National Audit Office
https://www.telegraph.co.uk/news/2020/01/09/bbc-studios-needs-fresh-ideas-take-netflix-says-national-audit/
The BBC’s commercial arm is overly reliant on ageing brands such as Doctor Who and Top Gear and is struggling to land significant new business in the face of competition from Netflix, the National Audit Office has found.
Since it was spun off as a commercial entity in 2017, BBC Studios has been able to make shows for both the BBC and rival broadcasters.
It was hoped that the company would create new money-spinning formats and popular brands to be sold around the world, a crucial strategy in its fight against Netflix, Amazon and other US giants.
The report also found that BBC Studios’ headline sales in 2018-19 fell by three per cent to £1,373 million, seven per cent lower than forecast in its 2018 business plan. That was partly down to a drop in DVD sales, traditionally a significant source of income for the BBC’s commercial division.