News Broadcasting
Global revenue from online video will grow to nearly $1.5 billion by the end of 2007
MUMBAI: Global revenue from online video sales, rentals or subscriptions will total just $298 million this year, but will grow to nearly $1.5 billion by the end of 2007.
A report from research firm Strategy Analytics states that With more than 100 million TV shows, movies and other programs downloaded, 2006 will be remembered as the year in which online sales of prerecorded video finally became a real business.
Kicked off by a strong push from Apple Computer and other media companies, online video sales will be driven by a fast-growing broadband audience seeking new ways to find, watch and pay for video.
TUsing demand elasticity analysis and feedback from 1,700 broadband users, Strategy Analytics projects that by 2010 global revenue will surge to $5.9 billion, accounting for eight percent of total home video industry revenues. Regions covered in this global forecast report include Asia Pacific, Central and Latin America, Europe, Middle East and Africa, and North America.
Companies covered in this report include ABC, Amazon, AOL, Apple, BitTorrent, British Telecom, Channel 4, CinemaNow, Deutsche Telekom, Glowria, Google, Guba, LOVEFiLM, Microsoft, MovieLink, Telecom Italia, Telefonica, Starz Entertainment, Viacom, Wal-Mart, the Walt Disney and YouTube.
News Broadcasting
BBC to cut up to 2,000 jobs in biggest overhaul in 15 years
Cost pressures and leadership change drive major workforce reduction plan
LONDON: BBC has unveiled plans to cut up to 2,000 jobs, roughly 10 per cent of its global workforce, in what marks its biggest downsizing in 15 years.
The announcement was made during an all-staff meeting led by interim director-general Rhodri Talfan Davies, as the broadcaster moves to tackle mounting financial pressures and reshape its operations.
Between 1,800 and 2,000 roles are expected to be eliminated from a workforce of around 21,500. The cuts form part of a broader plan to save £500 million over the next two years, aimed at offsetting rising costs, stagnating licence fee income and weaker commercial revenues.
In a communication to staff, BBC interim director-general Rhodri Talfan Davies said, “I know this creates real uncertainty, but we wanted to be open about the challenge,” acknowledging the impact the move would have across the organisation.
The restructuring comes at a time of leadership transition. Former director-general Tim Davie stepped down earlier this month, with Matt Brittin, a former Google executive, set to take over the role on May 18, 2026.
While some cost-cutting measures are being implemented immediately, the majority of the structural changes are expected to roll out over the next few years, with full savings targeted by the 2027–2028 financial year.
The broadcaster had earlier signalled its intent to reduce its cost base by around 10 per cent over a three-year period, warning of “difficult choices” as it adapts to shifting economic realities and audience expectations.
With operating costs hovering around £6 billion annually, the BBC’s latest move underscores the scale of the financial challenge it faces, as it balances public service commitments with the need for long-term sustainability in an increasingly competitive media landscape.
