Acquisitions push ITV Studios revenue to £555m

UK broadcaster ITV has posted revenues for its studio up 11% –­ or £555 million (US$893.7 million) – for the year to date and attributed the growth to its recent acquisitions spree.

ITV Studios has been the most active buyer of production companies on the global market in the past 18 months, hovering up the likes of The Garden, Big Talk Productions and So Television in the UK and Gurney Productions, High Noon and Thinkfactory in the US, along with Finnish producer Tarintalo (click image to enlarge).

ITVS’s £555 revenue million figure for the nine months to September 30, 2013, was up from £498 million for the same period in 2012, and ITV CEO Adam Crozier (above) said: “Our ongoing investment in ITV Studios continues to bear fruit.”

“We’re confident of a strong performance over the full year – both organically and from our recent acquisitions – underpinned by a delivery schedule which this year is weighted to Q4,” he added.

ITV’s broadcasting and online segment showed a slight year-on-year improvement of 3% – £1.34 billion compared with 2012’s £1.3 billion – which helped the broadcaster post improved overall revenue figure for the year to date of £1.66 billion, up 5% year-on-year.

The news came in an unaudited management statement yesterday.