Magazine article Screen International

ITV Studios Revenue Surges

Magazine article Screen International

ITV Studios Revenue Surges

Article excerpt

A strong performance by ITV Studios helped the broadcaster weather the post-Brexit storm, as net advertising revenue remained flat in the wake of the referendum.

ITV's consolidated profit before tax for the six months to 31 June was up 9% year-on-year - from £391m in 2015 to £425m. Meanwhile revenue grew 11% from £1.38bn to £1.53bn.

The charge was spearheaded by ITV Studios, with the burgeoning production arm's total revenue surging by 31%, from £496m to £651m.

ITV's UK revenue jumped 40% in the first six months of the year, from £208m to £292m.

The acquisition of production companies including Talpa Media, Twofour Group and Mammoth Screen helped the division's EBITDA grow by 42% from £85m to £121m.

Elsewhere, ITV's broadcast and online performance was up by 3%, while online, pay and interactive revenues increased significantly, jumping 26% to £107m. Two years ago this figure stood at £67m. …

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