Wednesday, November 28, 2007

BBC Worldwide CEO says Web revenue surging

By Gavin Haycock

LONDON, Nov 27 (Reuters) - The head of BBC Worldwide, the commercial arm of the British Broadcasting Corporation [BBC.UL], said on Tuesday the business has underestimated how much money it could make from the Internet.

BBC Worldwide Chief Executive John Smith said the business initially aimed to get at least 10 percent of its total revenues from the Internet, but has now realised this target is too low.

"We think we will be able to beat it. It has gone from one percent to nearly four percent in just 18 months. So already we are starting to see that probably we have under-egged the extent to which we will see more of our revenues coming from the Internet," Smith told a media leaders conference in London.
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