ITN announces record revenues in sixth successive year of operating profit growth

World-renowned production company ITN has today published its financial accounts for 2015, reporting record revenues of £120m in its sixth successive year of operating profit growth.

This strong performance follows the recent announcement of ITN’s 2020 Vision setting out ambitious targets for organic growth over the next five years to achieve group revenues of £180m by the end of 2020.

Building upon its world-class TV journalism, ITN has fast become an industry leader in fields beyond its traditional territory including advertising, sports production, current affairs and documentaries.

Financial headlines:

• Operating profit on ordinary activities before exceptional items increased by 19% year-on-year to £6.9m (2014: £5.8m) – a threefold increase since 2011
• Profit before tax increased by 40% to £2.8m (2014: £2.0m)
• Group revenues rose 7% to a record £119.7m (2014: £112.0m)
• Revenues from news businesses increased 3% to £85.6m (2014: £83.0m)
• Revenues from other businesses increased 18% to £34.1m (2014: £29.0m), driven primarily by the continued growth of ITN Productions
• ITN Productions saw a 42% increase in revenue to £23.7m (2014: £16.7m) with operating profit up 56% to £2.5m (2014: £1.6m)

Operational highlights:

• From the battle for No. 10 to the Paris terror attacks and ongoing refugee crisis, another relentless news agenda saw our teams from ITV News, Channel 4 News and 5 News deliver award-winning, agenda-setting journalism from every corner of the globe, bringing innovation both on-screen and in digital.
• Accelerated growth in ITN Productions brought game-changing new deals and commissions, most notably the transformative three-year multi-million pound contract to produce more than 1800 Football League matches each season – making ITN Productions one of the biggest football producers in the world.
• Further diversification into advertising production saw 25 commercial campaigns delivered, including Boots, Samsung and the National Lottery, as well as Britain’s biggest TV sponsorship deal outside sport with Suzuki.
• A broadcast programming slate totalling 150 hours and 33 commissions garnered both critical and commercial acclaim, in particular for the RTS award-winning documentary Dispatches: Escape from ISIS. Other key programmes showcased the huge variety of output including Gordonstoun: A Different Class for Sky1, Panda Babies for ITV and Sepp Blatter Exposed for Channel 5, as well as a second US series commission for Discovery’s Killer Instinct.
• 2015 also saw the relaunch of News at Ten presented by Tom Bradby, a brand new look for Channel 4 News and major newsroom signings including Robert Peston and Allegra Stratton for ITV News and Sian Williams for 5 News.
• ITN Source expanded its activities to generate new business in areas such as stills licensing and education, launching its first education business, ITNedu, which uses archive to create compelling content for digital education publishers.

ITN CEO John Hardie said: “The last few years have undoubtedly been some of the most successful in ITN’s history, producing a huge range of work for an ever-increasing number of clients and exceeding the challenging financial targets we set back in 2010.

“Thanks to this impressive progress, we have set the bar even higher as we look ahead to 2020 with an even more ambitious growth plan for the next phase of ITN’s evolution and we face the future with increasing confidence and optimism.”

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Download ITN’s 2015 Annual Report (PDF)

For further information:
Sarah Vaughan-Brown
Director of Corporate Communications, ITN
Tel: 020 7430 4837/07920 580 529
sarah.vaughan-brown@itn.co.uk

Laura Roberts
Head of Press & Public Affairs, ITN
Tel: 020 7430 4825/
laura.roberts@itn.co.uk

About ITN:
ITN is a world-class production company made up of two business divisions: Broadcast News and ITN Productions. The organisation provides:

• Daily TV News programmes for ITV, Channel 4 and Channel 5
• TV programmes across factual, entertainment and current affairs for national and international broadcasters
• TV commercials and branded content
• Sports live coverage, clips and programmes
• Digital content services, including licensing on-the-day news and archive content through ITN Source as well as short form content for online and mobile.

ITN: Trusted to Tell the World’s Stories

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