BBC raises £150m from Jubilee

The BBC will generate £150 million from televising the Queen's two Party at the Palace concerts worldwide this weekend.

The money will come from the syndication of the classical and pop concerts tomorrow and Monday at Buckingham Palace, which are being sold by BBC Worldwide to more than 100 TV and radio networks.

Additional money will come from global sales of up to 100 million DVDs, CDs and videos of the two concerts - which will be the most-watched pop and classical concerts of all time.

The corporation will deduct £4million in costs from putting on the two concerts then pass the remaining money to the Queen for distribution to her chosen charities and the Prince's Trust.

BBC Worldwide has already sold the live and edited coverage to more than 50 TV companies round the world - charging anything from £200,000 for VH1's coverage across the US to £1,000 for Lithuanian TV's coverage. Hundreds of radio stations in scores of countries have also bought coverage, costing from £500 to £5,000 for the two three-hour shows. The sales department of BBC Worldwide also expects a further surge in sales immediately after the Party at the Palace events.

The BBC is to ship some 50 million DVDs and videos - being produced within 24 hours of the concerts - to more than 100 countries for sale in retail outlets. In addition, the BBC has also contracted EMI Records to produce as many as 50 million CDs.

Thousands of pounds were also made from the ticketing hotlines, which were inundated by callers seeking free passes. Profits from the phone lines will also to go to the Queen's charities.

BBC Worldwide sources estimate the concerts and related spin-offs will gross more than £150 million. After deducting the cost of staging the concerts - the £4million does not include the cost of 24,000 picnics for guests, being paid for by the Palace - the Queen will be left with just short of £146 million to distribute to her chosen charities around Britain. A portion will be donated to the Prince's Trust charities.

A source at BBC Worldwide said today: "This is by far the biggest event I have ever sold for at the BBC. Back in the days of Band Aid and the two Nelson Mandela concerts, the sales were nothing like today.

"There are so many more TV networks around the world now and countries from every continent have been buying coverage."

Music expert Paul Williams, of Music Week, said: "I would estimate this will be the biggest ever music event as far as worldwide sales go. "