As we head into the Charter Review process we face a challenging three years. In addition to delivering our DQF strategy, our strategic context is changing as we respond to pressures from new competitors and structural changes in audience behaviour.
Although there are signs of recovery in the UK economy, we continue to see ongoing challenges in licence fee collection and strong commercial pressures from global competitors.
Our financial management has provided us with a solid base with which to face these future challenges which will be further boosted as we build on our track record of delivering efficiencies. We must, however, be mindful that given our constraints and financial risks, we cannot deliver these ambitions through efficiencies alone and we will have to make scope reductions.
This is my first review as Managing Director of Finance and Operations and I look back on my first year as one where we have continued to produce outstanding programmes and services whilst building on our impressive track record of delivering efficiencies. Delivery of all our savings targets by 2016/17, to enable us to deal effectively with 26% lower funding in real terms for our UK public services caused by the freeze in the licence fee and all the new obligations, whilst continuing to invest in the future of the BBC, is a very tough challenge requiring difficult choices. We have made good progress to date and remain on track to meet our targets.
Managing Director, BBC Finance and Operations
19 June 2014
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