ITV Boss Adam Crozier has delivered some of what he has been promising with 2011 profits up 14 per cent to £327m on a not-quite-so-exciting revenue increase of four per cent to £2.1bn.
Hero of the hour is ITV Studios, now run by highly-paid former Channel 4 programme chief Kevin Lygo. Non-advertising revenue was up £93m to £922m with ITV Studios contributing £612m. External sales were £320m.
Online revenues from digital advertising and the ITV Player grew 21 per cent to £34m, decent enough but more evidence that ITV’s hopes that digital can match broadcast ad revenue one day are far-fetched.