BBC Worldwide chief executive John Smith told a Reuters media leaders conference in London that BBC had underestimated the amount of money it could make. The company had a target of getting 10% of total revenue from internet, but realized that was too low, considering it has gone from 1% to 4% in just 18 months.

BBC Worldwide generates its revenue from making programs, publishing magazines, acting as a TV sales distributor for other companies and has a growing portfolio of global television channels.

Smith said that there are four main projects behind BBC Worldwide’s strategy.

One of those projects being exploiting international users of bbc.com through advertising. Smith said “We intend to use the profits that come from that to significantly invest in the site and have an enormous amount more functionality and content on there and promote it."

The others include plans to license content to other businesses and social networks in areas such as gardening, automotive, wildlife, music and homes. BBC has also already launched its own channel on YouTube for BBC content.

The fourth plank of BBC’s strategy is its plans for an on-demand content service that would combine more than 10,000 hours of programming.

Smith also discussed more acquisitions like that of Lonely Planet travel guides earlier this year.

Source: Brand Republic