ITV maintains momentum with strong 2013
Editor | 26-02-2014
The UK’s economic recovery may not be as strong as some say but the nation’s leading independent broadcaster ITV has posted what it calls its best year on year on-screen performance for ten years.
For the year ended 31 December 2013, viewing for the ITV main channel was up 3% and ITV Family SOV up 4% diving total external revenues to rise 9% to £2.389 billion EBITA before exceptional items rose by £107 million or 21% to £620 million. As it rebalanced its business lines non-NAR revenues were up £175 million to £1.211 billion.
Broadcast & Online revenues up 3% driven by 16% growth in the Online, Pay & Interactive business line as long form video requests climbed 16% driven by mobile and tablets. There was also 2% growth in NAR and the increasingly impressive ITV Studios revenues were up 20% with organic growth and acquisitions coming through as planned.
Looking forward ITV expects to have a solid platform for 2014 with TV Family NAR expected to be up 5% to 6% in the four months ending April 2014 and Online, Pay & Interactive delivering double digit growth in 2014 helped by the launch of ITV Encore.
“ITV has taken another significant step forward,” said Chief Executive Adam Crozier. “All parts of the business are progressing well as we continue to rebalance ITV. 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 US. In 2014 we again expect all parts of the business to see further growth… and we expect to outperform our estimate of the television advertising market over the full year.”