Finance
UK government to review the BBC's long-term funding
Published by Global Banking & Finance Review®
Posted on November 30, 2024
2 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on November 30, 2024
2 min readLast updated: January 28, 2026
The UK government is reviewing the BBC's funding, exploring alternatives to the TV licence amid streaming competition, ensuring a sustainable model.
LONDON (Reuters) -Britain plans to review long-term funding for the BBC, the national broadcaster, and find alternatives to the TV licence, as it seeks to secure its future given competition from streaming giants and as viewers watch less live television.
Currently the BBC is funded by the TV licence, a charge of 169.50 pounds ($215) a year, which is imposed on all viewing households.
But the number paying has fallen in recent years as people change their habits and access more content online.
The Department for Culture, Media and Sport said on Friday it would use a review of the BBC's Royal Charter to consider "alternate funding options" for the broadcasting and media giant, which employs 21,000.
"We will have an honest national conversation about the broadcaster's long-term future, ensuring the BBC has a sustainable public funding model that supports its vital work but is also fair and responsive to those who pay for it," Culture minister Lisa Nandy said.
The BBC has in recent years made savings after increases in the licence fee failed to keep pace with inflation.
In order to give the BBC financial certainty up to 2027, the government said it was committed to keeping the licence its current form and would lift the fee in line with inflation.
The review will help to decide its future funding beyond that date.
(Reporting by Sarah Young; Editing by Catarina Demony and Paul Sandle)
The main topic is the UK government's review of the BBC's long-term funding options.
The review is due to competition from streaming services and changing viewer habits.
Alternatives to the TV licence are being considered to ensure sustainable funding.
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