You will be redirected back to your article in seconds

ITV sees 45% profit hike

Buccieri upped; Ad revenues recover

The fortunes of ITV, the U.K.’s biggest free-to-air commercial web, are continuing to improve — the broadcaster reported a 45% hike in profits to £240 million ($393 million) in half-year results on Wednesday.

The continuing recovery follows serious belt tightening, a strengthening advertising market and the arrival of a new management team.

ITV, whose biggest hit is talent skein “The X Factor,” is one year into a five-year transformation plan, part of which involves beefing up its underachieving production arm, ITV Studios.

Analysts at UBS described a “stronger than expected” performance at ITV Studios, where total revenues grew 4% year-on-year to $432 million.

The good showing was driven by ITV Studios’ international production operation, which helped boost the division’s external revenues — commissions for broadcasters other than ITV — by 11% to $229 million.

“While there’s still a long way to go, we’re starting to see potential in the level of new work coming through ITV Studios with 68 new commissions so far this year, of which 29 are international,” said ITV CEO Adam Crozier.

Potential money spinners on the international market include “Prime Suspect,” remade for the U.S. in a co-production for NBC, and “Titanic,” created by “Downton Abbey” mastermind Julian Fellowes and now sold to 15 broadcasters.

Crozier announced that ITV has tapped Paul Buccieri as managing director of ITV Studios Intl. In the newly created role, the topper will develop and oversee the business’s international strategy.

Buccieri will retain overall responsibility for ITV Studios America, where he has been prexy-CEO for the past four years.

He will report to ITV Studios managing director Kevin Lygo.

More TV

  • TV News Roundup: 'Knightfall' Grows by

    TV News Roundup: 'Knightfall' Premiere Grows by 71 Percent in Delayed Viewing

    The fortunes of ITV, the U.K.’s biggest free-to-air commercial web, are continuing to improve — the broadcaster reported a 45% hike in profits to £240 million ($393 million) in half-year results on Wednesday. The continuing recovery follows serious belt tightening, a strengthening advertising market and the arrival of a new management team. ITV, whose biggest […]

  • Tax Plan Strikes Fear Among Below

    Hollywood's Below-the-Line Workers Anxious About New Tax Plans

    The fortunes of ITV, the U.K.’s biggest free-to-air commercial web, are continuing to improve — the broadcaster reported a 45% hike in profits to £240 million ($393 million) in half-year results on Wednesday. The continuing recovery follows serious belt tightening, a strengthening advertising market and the arrival of a new management team. ITV, whose biggest […]

  • Steve Edwards Good Day LA

    Veteran Anchor Steve Edwards Out at 'Good Day L.A.'

    The fortunes of ITV, the U.K.’s biggest free-to-air commercial web, are continuing to improve — the broadcaster reported a 45% hike in profits to £240 million ($393 million) in half-year results on Wednesday. The continuing recovery follows serious belt tightening, a strengthening advertising market and the arrival of a new management team. ITV, whose biggest […]

  • Rupert Murdoch Bob Iger Disney Fox

    Disney Nearing Finish Line With 21st Century Fox as Comcast Bows Out of Acquisition Hunt

    The fortunes of ITV, the U.K.’s biggest free-to-air commercial web, are continuing to improve — the broadcaster reported a 45% hike in profits to £240 million ($393 million) in half-year results on Wednesday. The continuing recovery follows serious belt tightening, a strengthening advertising market and the arrival of a new management team. ITV, whose biggest […]

  • Kenya Barris Alec Baldwin

    ABC Gives Straight-to-Series Order to Comedy From Kenya Barris, Alec Baldwin, Julie Bean

    The fortunes of ITV, the U.K.’s biggest free-to-air commercial web, are continuing to improve — the broadcaster reported a 45% hike in profits to £240 million ($393 million) in half-year results on Wednesday. The continuing recovery follows serious belt tightening, a strengthening advertising market and the arrival of a new management team. ITV, whose biggest […]

  • Golden Globe Nominations: Good News and

    Golden Globes Nominations: At Least It Was a Good Year for Strong Female Roles

    The fortunes of ITV, the U.K.’s biggest free-to-air commercial web, are continuing to improve — the broadcaster reported a 45% hike in profits to £240 million ($393 million) in half-year results on Wednesday. The continuing recovery follows serious belt tightening, a strengthening advertising market and the arrival of a new management team. ITV, whose biggest […]

More From Our Brands

Access exclusive content