BBC One is the primary television channel of the British Broadcasting Corporation (BBC). It was launched on 2 November 1936 as the BBC Television Service, and was the world's first regular, public television service with a high level of image resolution . It was later renamed BBC tv until the launch of sister channel BBC Two in 1964. The channel has an annual budget of £840 million. , and makes an annual profit of £900 million.BBC Annual Report and Accounts 2005/2006 Along with the BBC's other domestic television stations, it is funded entirely by the television licence fee, and therefore shows uninterrupted programming with no commercial advertising.