Naman Ramachandran The BBC has posted a record income of £5.7 billion ($7.2 billion) for the 2022/23 period, up from £5.33 billion last year, but is in deficit by £120 million.
In the corporation’s annual report, which was published on Tuesday, it was revealed that the bulk of the income was from the license fee paid for by the public, which accounted for £3.74 billion, £60 million down from last year.
The licence fee has been frozen for two years. The BBC had a record commercial performance that contributed to 30% revenue growth, climbing from £1.5 billion to £1.9 billion.
The corporation’s commercial arm BBC Studios delivered record-breaking results, achieving over £2 billion in sales for the first time, with profits of £240 million, up 6%.
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