The toff factor: Downton Abbey and Mr Selfridge help ITV profits soar to £348m

 
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Gideon Spanier27 February 2013
The Weekender

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Period dramas Downton Abbey and Mr Selfridge helped ITV’s annual profits to soar, despite huge BBC audiences for the Olympics and the Diamond Jubilee.

The ITV Studios programme-making arm enjoyed record-breaking profits as the number of shows it sold to other broadcasters around the world jumped by almost half and helped to offset a flat advertising market.

Mr Selfridge, the Edwardian drama about the London department store starring Jeremy Piven, has been sold to 36 countries, even though it is only half way through its first series.

Four-part drama Titanic sold to 92 countries and detective series Prime Suspect was screened in dozens. “We’ve had terrific growth at ITV Studios,” said ITV chief executive Adam Crozier, who expects sales to keep growing this year after making a string of acquisitions, including So Television, Graham Norton’s production company.

Before Mr Crozier joined in 2010, ITV bought in many hits including The X Factor and Britain’s Got Talent from other independent firms. He has pushed for the network to make its own programmes so it can sell them, and he has focused on drama rather than reality shows because of the greater appeal to foreign audiences.

Pre-tax profits jumped six per cent to £348 million — the third year in a row of rising gains. In a further sign of ITV’s return to health since the advertising recession of 2009, there will be a £156 million special one-off payment to shareholders, in addition to the annual dividend.

Mr Crozier admitted ITV’s share of the viewing audience fell three per cent last year, which he blamed on “the unprecedented number of major one-off events”, but he added that he expects the broadcaster to bounce back this year.

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