BBC Studios and Post Production (S&PP) made a £3 million (€3.8m) loss in the last 12 months, according to the corporation's 2013/14 annual report.
The report describes 2013–14 as "a transformational year for S&PP," pointing to its "moving from its historic home at Television Centre and successfully establishing operations at new core locations – Elstree Studios [reported on by PSNEurope in August 2012] and South Ruislip – whilst new studios are being built at Television Centre".
While S&PP achieved £29m in sales from its new locations and "smaller studio footprint", 2013–14 saw an operating loss of £3m for the year, compared to a £1m loss in 2012–13 (after "deducting for one-off relocation costs, but before BBC pension deﬁcit contributions and other exceptional items"). The report says: "A level of loss was always budgeted for this year of relocation and changing operations, and is being funded through S&PP cash reserves which were retained in anticipation."
As part of the lease from Elstree Studios, S&PP has agreed to invest in the studio complex. The arrangement last year saw S&PP installing technical galleries for studio spaces, including the George Lucas Stages, which now feature a Studer Vita 8 for mixing and OnAir 3000 handling studio routing.
BBC S&PP is due to move back into Television Centre (pictured) some time next year.
The company delivered a range of projects for numerous broadcasters and media companies over the last year, including full studios and post-production services on Strictly Come Dancing, EastEnders, Children in Need, the Winter Paralympic Games on Channel 4 and Sky’s A League of Their Own.
Photo: Martin Leng