British broadcaster ITV’s total revenue increased 3% in 2019 to £3.8B ($4.9B) after the company’s production arm ITV Studios performed ahead of expectations. The studio, which makes hit…
’s total revenue increased 3% in 2019 to £3.8B after the company’s production arm ITV Studios performed ahead of expectations., increased its revenue by 9% year-on-year to £1.9B in the 12 months to December 2019. This was ahead of forecasted growth of 5%.
ITV’s advertising revenue — once its most important source of income — was down 1.5% to nearly $1.8B, according to the annual earnings, which showed a 10% drop in adjusted EBITA to £729M. Earnings per share stood at 13.9p, which was also down 10% on 15.4p in 2018. ITV CEO Carolyn McCall said earnings were hit by investments in technology, data and streaming, including BritBox, which launched in the UK last year and has hit 1M subscribers in the U.S. She said earnings would have been “broadly flat” had it not been for these investments.McCall said: “Thanks to the hard work of our teams across the business, our full-year results have come in ahead of expectations helped by revenue growth in the second half of the year in ITV Studios, advertising and online.
ITV Studios’ scripted revenue hit £520M last year, which was a 37% rise on 2018’s figure of £380M, and was bolstered by shows including Mammoth Screen’s upcoming BBC seriesFor the first time, ITV broke down the production arm’s performance in the U.S., where it has won business including two seasons ofQueer Eye“The demand for quality content from broadcasters and platform owners has never been stronger and this provides a significant opportunity for ITV Studios.
Furthermore, the company added that original hours supplied to streaming services increased by 95% in 2019, with ITV Studios landing commissions including
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