ITV releases preliminary 2011 results
ITV has published its preliminary results for the year ending December 2011, revealing that its external revenues are up 4% to hit £2,140m on the back of non-advertising revenues.
It comes as the broadcaster remains “cautious” about the prospects for advertising this year, with an expectation that non-advertising revenue could decline by as much as 2% in Q1 of 2012.
Cognisant of these dangers the firm is increasingly looking to content, pay and online channels to accommodate future growth both at home and abroad.
Adam Crozier, CEO of ITV, said: “We’re now almost two years into our five-year Transformation Plan and our continued growth in revenue and profit - at a time when the advertising market is broadly flat - demonstrates that we’re performing in line with our strategic priorities. The increase in non-advertising revenues of £93m, driven by our studios and online businesses, is clear evidence of progress in rebalancing the Company and our ability to grow new revenue streams.”