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2025/26 was a successful year for Ä¢¹½¶ÌÊÓƵ Commercial, as the business grew its profits, delivered significant returns to the Ä¢¹½¶ÌÊÓƵ, and achieved creative recognition internationally.

Against challenging trading conditions, revenue including intra-group transactions was stable at £2.2 billion (2024/25: £2.2 billion), with growth in some revenue streams offsetting decline in others. Growth was led by direct-to-consumer services, including the fast-growing and profitable BritBox and Ä¢¹½¶ÌÊÓƵ Select, and a strong consumer products business, driven by Bluey which was the highest selling pre-school toy brand in the US. Decline was seen in production income due to fewer commissions and a fall in advertising revenue.

Statutory profit after tax for Ä¢¹½¶ÌÊÓƵ Commercial was £71 million (2024/25: £65 million), up 9%, driven by a combination of factors including a revenue mix weighted towards higher margin sales, delivery of cost savings in line with a new comprehensive cost review, and the impact of favourable foreign currency hedges. EBITDA, Ä¢¹½¶ÌÊÓƵ Commercial’s preferred profit measure, grew by 17% at £267 million (2024/25: £228 million), and the business met its annual and cumulative goals for returns to the Ä¢¹½¶ÌÊÓƵ in dividends and content investment in support of Ä¢¹½¶ÌÊÓƵ Group strategic goals. See review of financial performance for further details on EBITDA and returns to the Ä¢¹½¶ÌÊÓƵ.

These results, along with Ä¢¹½¶ÌÊÓƵ Commercial’s 91 awards for creativity and craft, show the ongoing international demand for content with the Ä¢¹½¶ÌÊÓƵ’s standards of creativity, quality and reliability.

Content highlights included The Americas, narrated by Tom Hanks, which broke viewing records and received two Emmy nominations, whilst new comedy series Death Valley sold to over 100 markets internationally.

The US version of global entertainment brand Dancing with the Stars pioneered a new approach to engagement on social media, achieving the highest share of linear viewing since May 2004, especially amongst those under 34.

Overall, watch time for Ä¢¹½¶ÌÊÓƵ Commercial’s brands on YouTube was higher than any UK broadcaster or global streamer, led by Bluey’s popularity, and in January 2026 the Ä¢¹½¶ÌÊÓƵ Group announced a partnership with YouTube to create dedicated channels and content, bringing further opportunities to build upon Ä¢¹½¶ÌÊÓƵ Studios’ success in this area, alongside specialist training for emerging talent.

For the coming financial year, Ä¢¹½¶ÌÊÓƵ Commercial is firmly focused on investing in sustainable long-term growth, particularly in direct-to-consumer services, and creating innovative, world-class content and services for audiences around the world, whilst continuing to drive efficiencies, in support of Ä¢¹½¶ÌÊÓƵ Group strategy and for the benefit of licence fee payers as a whole.