Naman Ramachandran U.K. broadcaster ITV’s annual results for 2021 were announced Thursday and the picture is rosy.Total external revenue was up 24% to £3.4 billion ($4.6 billion), up from COVID-hit 2020’s £2.7 billion .
ITV Studios total revenues grew 28% to £1.7 billion, up from 2020’s £1.3 billion and now stands just 2% below the heights of 2019.
ITV Studios external revenue was up 30% at £1.1 billion, compared to 2020’s £903 million. Total revenue from the group’s media and entertainment business was up 21% at £2.2 billion, up from 2020’s £1.8 billion, with total advertising revenue up 24%, the highest in ITV’s history within which video on demand advertising was up 41%.
Adjusted earnings before interest, taxes, and amortization (EBITA) was up 42% at £813 million up from 2020’s £573 million. This was driven by the strong recovery in the advertising market, resumption of productions post COVID and tight cost control, with £37 million of permanent overhead cost savings in the year, ITV said.
Read more on variety.com