ITV has hailed the success of its programmatic ad platform – Planet V – and continued digital transformation for delivering “significant growth” in both viewing and revenues over the past 12 months.
The broadcating giant behind series including Joan (pictured), Mr Bates vs the Post Office and Until I Kill You has reported that adjusted earnings before interest, taxes and amortisation (EBITA) rose by 11% to £542m in 2024.
Record profits in ITV Studios, strong digital performance on ITVX, and cost efficiencies drove higher margins and profitability.
Chief executive Carolyn McCall said: “Three years ago we announced the second phase of our More than TV strategy and today’s results show our significant progress and success in navigating the rapidly changing media industry.
“ITV Studios has delivered record profits this year, despite the one off impact of the writers and actors strike and a softer demand from free-to-air broadcasters, which reflects the strength, scale, diversification and creativity of ITV Studios production companies across the world.
“ITVX has been the UK’s fastest growing streaming platform over the last two years and coupled with our programmatic advertising platform, Planet V, has delivered significant growth in both digital viewing and revenues and is providing attractive returns.”
The company said that its efficiency programme has delivered savings which have funded growth investments, offset inflation and improved margins. The programme is ongoing and will continue to be viewer led in an effort to attract both mass reach audiences on linear and targetable audiences on ITVX.
Content production and digital now account for close to two thirds of its revenue; it expects to fully recoup its ITVX investment, two years ahead of schedule.
McCall added: “Our ongoing transformation ensures we are an adaptable and agile company, well positioned to deliver good profitable growth, strong cash generation and attractive returns to shareholders.”
The board proposed a final dividend of 3.3p per share, bringing the full year dividend to 5p, totalling to around £245m.
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