ITV sees 1% increase in broadcasting and online revenues while ITV studio grows revenue by £100m in 2012
ITV has announced a one per cent increase in its broadcast and online revenue to £1,834 million for 2012 as ITV Studios grew its revenue by £100 million.
Releasing it's financial figures for the year, the commercial broadcaster saw its broadcast and online revenue grow by £14m from the previous year's total. It also reported a 26 per cent increase in online pay and interactive revenue at £102 million with the continued development of ITV Player where video requests were reportedly up by 22 per cent.
Overall the company made a pre-tax profit of £348 million, six per cent higher than the previous year.
Production arm ITV Studios also grew its revenue by £100m to reach £712 million, growth of 16 per cent on 2011.
While the ITV Family NAR figure was 'flat', ITV claimed to outperform the TV advertising market by one per cent.
Adam Crozier, CEO of ITV, said: “We’re now almost three years into our Transformation Plan and our strong performance is delivering growth right across ITV, enabling us to build a stronger and more balanced business."
He continued: “In 2012 we achieved double digit earnings growth for the third year running, in a broadly flat advertising market. We now have non-advertising revenues of more than £1bn, an increase of £114m or 12 per cent year on year, fuelled by a strong performance in ITV Studios and our Online, Pay & Interactive business."
He added: "We’re positioning ourselves to take advantage of the opportunities arising from the increasing number of platforms needing high quality content and from changes in consumer behavior, in particular the surge in mobile viewing."
The broadcaster also announced cost savings of £30m for last year and further savings of £20 million for this year. It has also forecast its programming budget for the year at £980 million as it aims to reinvest its sports rights savings.