The British Broadcasting Corporation (BBC) is the largest broadcasting organization in the world. Its global headquarters are located in London and its main responsibility is to provide public service broadcasting in the United Kingdom. The BBC is an autonomous public service broadcaster. Within the United Kingdom its work is funded principally by an annual television licence fee, which is charged to all U.K households, companies and organizations using any type of equipment to record and/or receive live television broadcasts.
Outside the UK, the BBC World Service has provided services by direct broadcasting and re-transmission contracts by sound radio since the inauguration of the BBC Empire Service in December 1932, and more recently by television and online. Though sharing some of the facilities of the domestic services, particularly for news and current affairs output, the World Service has a separate Managing Director, and its operating costs are funded mainly by direct grants from the UK government. These grants are determined independently of the domestic licence fee.
The Corporation's 'guaranteed' income from the licence fee and the World Service grants are supplemented by profits from commercial operations through a wholly owned subsidiary, BBC WorldWide Ltd. The company's activities include programme- and format-sales, magazines including Radio Times and book publishing. The BBC also earns additional income from selling certain programme-making services through BBC Studios and Post Production Ltd., formerly BBC Resources Ltd, another wholly owned trading subsidiary of the corporation.
