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13/05/2003

BBC Ventures launch new commercial business

BBC Ventures, the BBC’s commercial business-to-business division, have launched BBC Vecta, set up to develop and market products from the BBC’s award winning Research and Development team, and other strategic partners, for the media and entertainment markets.
BBC Vecta will create fresh revenues for the BBC, which will be reinvested into programming.
Through their business units, the company will select and commercialise innovations from BBC R&D and elsewhere, which may have been proven within the rigorous environment of the BBC before reaching the market. This approach not only reduces risk in making the investment, but also ensures that there is an existing demand and usefulness for the products within the media and entertainment arena.
Roger Flynn, CEO, BBC Ventures Group commented: “The Government set us a challenge to find creative ways to raise commercial revenues. For us, BBC Vecta is part of our response and seeks to capture more of the value that is inherent in innovations within the BBC.”
Mark Popkiewicz, managing director of BBC Vecta, said: “The commercial expertise in Vecta combined with the technical expertise within the BBC R&D represents huge assets that will be utilised to generate fresh income for BBC’s programmes and services. This means that we can make effective investments in new innovations that enable broadcasters to make the whole viewing experience more compelling.”
(GB)
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