ITV profitable 2014, online growing
March 4, 2015
ITV has reported pre-tax profits rose 39 per cent to £605 million for the year to December 31st 2014. The UK commercial broadcaster saw revenue rise 8 per cent to £2.59 billion, while net advertising revenue rose 6 per cent to £1.63 billion.
Non advertising revenue rose 10 per cent to £1.3 billion, boosted by a 30 per cent increase in the company’s online, pay and interactive division, and a 9 per cent increase in revenue to £933 milliom at its production arm ITV Studios. The acquisitions of US TV companies Leftfield Entertainment and DiGa Vision in 2014 helped ITV Studios boost international revenue to nearly half the total.
Turnover from its online, pay and interactive division was up 30 per cent to £15 million as on demand viewing grew 26 per cent, amid improvements in the ITV Player service, now available on more platforms.
During the year, ITV also launched new channels – ITV Encore, its first pay-only channel, and ITVBe, a free-to-air channel targeting a young female audience.
“ITV delivered another strong performances in 2014,” said chief executive Adam Crozier. “All parts of the business are progressing well.”