ITN has today outlined its 2020 Vision to take the company forward to the next stage of its development and capitalise on new growth opportunities.
Setting ambitious financial targets, ITN announced a number of strategic priorities aimed at achieving revenues of £180m+ the end of 2020.
The strategy puts a key focus on driving growth in businesses outside of TV News, accelerating organic diversification of output to generate more than 50% of total revenues by 2020.
It also sees an expansion of ITN’s total footprint, including a push to grow its US presence five-fold over the period to generate 10% of revenues by 2020.
John Hardie, ITN CEO, said: “ITN is evolving from a position of strength and the opportunities are there for the taking. After achieving record revenue in the last financial year and six successive years of sustained operating profit growth, we are well placed to build upon that momentum.”
ITN will reorganise its operations into two business divisions: Broadcast News and ITN Productions.
As supplier to all three commercial PSBs, Broadcast News comprises the multi award-winning news services for ITV, Channel 4 and Channel 5. This business will continue to be the single largest contributor to ITN’s revenues and its editors will continue to report directly to the CEO.
ITN Productions will be made up of four new distinct businesses; TV Production; Sports Production; Advertising Production and Digital Content Services.
ITN Productions will be led by Mark Browning in the newly-created role of group managing director, ITN Productions and reporting directly to the CEO. The success of this division has been a game-changer for ITN, ranked already as one of the biggest independent producers in the UK. Formed in 2010 with a turnover of just £7m, today it is a £24m business and growing fast.
The TV Production business will be run by editorial director Chris Shaw. Its output has won both critical acclaim and achieved commercial success with series commissions from every major UK broadcaster as well as US channels such as Discovery and A+E. Last year alone, ITN Productions won 11 major awards including two BAFTAs, an International Emmy and a Peabody for its work.
Advertising Production, which includes branded content services, will be overseen by former Saatchi and Saatchi managing partner Laetitia Rennie. In the last two years, its adverts have garnered four Gold Media Week Awards and the Grand Prix in addition to two Gold Cannes Lions for the Lego-themed adverts for BT and Confused.com. Its client base includes Suzuki, Nat West, Samsung, Thomas Cook and Barclays.
The Sports Production business is already one of the world’s biggest football producers. With unrivalled expertise in fast-turnaround for live productions across broadcast and digital, last year saw a transformative multi-million pound three year deal to film 1,800 Football League matches, capturing every game in every league. It also produces near-live match clips and highlights for Sun+ Goals and The Times across the Barclays Premier League, Scottish Professional Football League, Aviva Premiership Rugby, England international cricket, Emirates FA Cup, England International football and Tour de France. Recruitment is underway for the new role of director of sport and an announcement will be made in due course.
Digital Content Services will be led by Managing Director, Andy Williams. This unit brings together ITN’s diverse portfolio of digital content offerings, including the production of short form news and entertainment content for online and mobile news sites and portals such as MailOnline, guardian.co.uk and AOL, as well as ITN’s Industry News service which creates news-style programming for industry associations and professions in both the UK and US. It will also include ITN Source, which syndicates daily news footage to international broadcasters, as well as licensing ITN’s archive – the UK’s first fully digitised news archive – and third party collections to a global client base. ITN Source will continue to operate as a globally recognized brand alongside ITNedu, a recently launched business targeting the digital education sector.
ITN CEO John Hardie continued: “Our numbers tell the story of our success, with revenues up 25% on 2010. The 2020 Vision growth plan sets the bar even higher to release the incredible potential that I am confident ITN can achieve as a world-class production company.”
ITN is a world-class production company made up of two business divisions: Broadcast News and ITN Productions.
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