ITV Delivers 15% Revenue Growth, 18% Profit Rise as International Production Business Expands

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Courtesy of ITV

LONDON — U.K.-based broadcaster and producer ITV reported Wednesday its annual revenue was up 15% to $2.97 billion ($4.15 billion), and profit before tax grew 18% to £843 million ($1.18 billion) as its international production division, ITV Studios, continued to expand.

The company saw strong cash flows as ITV Studios was strengthened by further acquisitions, including “The Voice” creator Talpa Media, Twofour Group and Mammoth Screen. ITV Studios has become a global production business with revenue up 33% to £1.2 billion ($1.73 billion) and 53% of revenue now coming from outside the U.K.

The company has a strong pipeline of new and returning drama including “Victoria,” “Tutankhamun,” “Houdini and Doyle,” “Cold Feet,” “Poldark,” “Shetland,” “Aquarius,” “Endeavour” and “Vera,” as well as entertainment formats “The Voice,” “Dance Dance Dance,” “I’m a Celebrity… Get Me Out of Here!,” “The Chase,” “Hell’s Kitchen” and “Saturday Night Takeaway.”

Revenue from its broadcasting and online division grew 6% to £2.15 billion ($3 billion), although its share of viewing was down 3%. Its pay TV, online and interactive business grew 23% to £188 million ($263 million).

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