ITV reports 2013 revenue growth, eyes more acquisitions
After a year that saw total revenues rise 9% and its best on-screen performance in 10 years, UK broadcaster ITV will continue to look at adding to its roster of recently acquired prodcos – including DiGa, Gurney Productions, High Noon Entertainment and ThinkFactory Media – in 2014.
According to its full-year results for the year ended December 31, 2013, ITV’s total revenues rose 9% from £2.20 billion (US$3.6 billion) in 2012 to £2.39 billion (US$4 billion). Crucially, the broadcaster’s non-advertising revenue was up £175 million (US$291 million), driven by ITV Studios where revenues rose 20% in 2013, and online, pay and interactive.
Meanwhile, pre-tax profits rose 30% from £334m (US $557 million) in 2012 to £435m (US$726 million) in 2013.
It was also ITV’s strongest year in 10 years for on-screen performance, with viewer share up 3% for the ITV main channel and up 4% for ITV Family SOV.
In 2014, ITV Family non-advertising revenues are expected to be up 5% to 6% in the four months to end April 2014; online, pay and interactive is anticipating double-digit growth following the launch of ITV Encore; and ITV Studios will continue to look at potential acquisitions.
Adam Crozier, ITV CEO, said in a statement, “The investment we have made in content has driven significant revenue and profit growth in ITV Studios – up 20% and 24% respectively – both organically and through the selective acquisitions we have made in the UK and the U.S.”
He added, “In 2014 we again expect all parts of the business to see further growth. In ITV Studios we anticipate good growth, primarily driven by the acquisitions we have made in the UK and internationally.”