You will be redirected back to your article in seconds

ITV Studios on course for $159 mil profit

BBC Olympics coverage dents ITV ad revenues

LONDON — Buoyed by the overseas success of fare like “Hell’s Kitchen” and Julian Fellowes-scripted “Titanic,” ITV Studios is on course to deliver more than £100 million ($159 million) in profit this year.

The production and distribution arm of the U.K. free-to-air broadcaster saw its revenues jump by 20% to £498 million ($791 million) for the first nine months to Sept. 30, compared with £416 million ($661 million) a year ago, as it announced its interim management statement.

The strong perf of the in-house production unit will reassure stockholders that CEO Adam Crozier is making progress with his five-year plan to make ITV less dependent on the vicissitudes of the ad market.

He said: “We have made further progress in reshaping and rebalancing ITV to ensure the business is more robust both commercially and creatively.

“ITV Studios has performed strongly as our strategy of investing in the creative pipeline and talent again shows through in our results.”

Crozier indicated that TV Studios has a strong pipeline of shows lined up for next year, and would love an in-house answer to “Downton Abbey,” which it commissions but is made by NBCUniversal-owned shingle Carnival.

“The number of new commissions and re-commissions already secured for 2013 gives us confidence that there will continue to be good underlying growth,” he said.

In Blighty, ITV reported a 6% year-on-year fall in ad revenues in the third quarter of 2012 as advertisers withheld coin while auds turned to the rival BBC to watch its Olympics coverage.

More TV

  • Canal Plus

    Canal Plus Orders Thomas Lilti's 'Hippocrate' Medical Series

    LONDON — Buoyed by the overseas success of fare like “Hell’s Kitchen” and Julian Fellowes-scripted “Titanic,” ITV Studios is on course to deliver more than £100 million ($159 million) in profit this year. The production and distribution arm of the U.K. free-to-air broadcaster saw its revenues jump by 20% to £498 million ($791 million) for […]

  • Teen Titans Go

    'Teen Titans Go': Animation for All Ages Celebrates Major Milestone Ahead of Feature Film

    LONDON — Buoyed by the overseas success of fare like “Hell’s Kitchen” and Julian Fellowes-scripted “Titanic,” ITV Studios is on course to deliver more than £100 million ($159 million) in profit this year. The production and distribution arm of the U.K. free-to-air broadcaster saw its revenues jump by 20% to £498 million ($791 million) for […]

  • Duffer Brothers Variety Facetime Interview

    Duffer Brothers on 'Stranger Things' 2 and What Scares Them

    LONDON — Buoyed by the overseas success of fare like “Hell’s Kitchen” and Julian Fellowes-scripted “Titanic,” ITV Studios is on course to deliver more than £100 million ($159 million) in profit this year. The production and distribution arm of the U.K. free-to-air broadcaster saw its revenues jump by 20% to £498 million ($791 million) for […]

  • Occupied 2

    MTG Studios Boards Norwegian Drama Series 'Wisting'

    LONDON — Buoyed by the overseas success of fare like “Hell’s Kitchen” and Julian Fellowes-scripted “Titanic,” ITV Studios is on course to deliver more than £100 million ($159 million) in profit this year. The production and distribution arm of the U.K. free-to-air broadcaster saw its revenues jump by 20% to £498 million ($791 million) for […]

  • endemol shine logo

    Endemol Shine Surprises With Plan to Shrink Southeast Asia Operation

    LONDON — Buoyed by the overseas success of fare like “Hell’s Kitchen” and Julian Fellowes-scripted “Titanic,” ITV Studios is on course to deliver more than £100 million ($159 million) in profit this year. The production and distribution arm of the U.K. free-to-air broadcaster saw its revenues jump by 20% to £498 million ($791 million) for […]

  • Stranger Things Season 2

    Netflix, Deutsche Telekom Ink Global Partnership

    LONDON — Buoyed by the overseas success of fare like “Hell’s Kitchen” and Julian Fellowes-scripted “Titanic,” ITV Studios is on course to deliver more than £100 million ($159 million) in profit this year. The production and distribution arm of the U.K. free-to-air broadcaster saw its revenues jump by 20% to £498 million ($791 million) for […]

  • The Simpsons

    All the Thanksgiving TV Marathons You Can Binge This Weekend

    LONDON — Buoyed by the overseas success of fare like “Hell’s Kitchen” and Julian Fellowes-scripted “Titanic,” ITV Studios is on course to deliver more than £100 million ($159 million) in profit this year. The production and distribution arm of the U.K. free-to-air broadcaster saw its revenues jump by 20% to £498 million ($791 million) for […]

More From Our Brands

Access exclusive content