A wholly owned subsidiary of the BBC, BBC Studios is now the primary home for the BBC’s commercial production and distribution around the world. This business was created in April 2018 following the spin-off of production arm BBC Studios from the public service BBC in 2017 and its subsequent merger with BBC Worldwide, responsible for the production, sales, distribution and exploitation of BBC brands, channels and intellectual property. The new BBC Studios is a global content company, embodying the very best of bold British creativity, and investing in quality content across premium genres including factual, scripted and entertainment. Its profits contribute to significant financial returns that are reinvested into the BBC for the benefit of the UK licence fee payer.