The U.K. TV giant’s production arm expects its total revenue to recover to 2019 levels in 2022 following disruption due to the coronavirus pandemic.
is targeting to double the number of scripted programming hours created by its production arm ITV Studios and boost the percentage of revenue it gets from streamers from 14 percent this year to around 25 percent by 2026.
The company, led by CEO Carolyn McCall, unveiled the targets on Thursday and also said it expect total revenue at ITV Studios to “recover to 2019 levels in 2022” following disruption due to the coronavirus pandemic. “Thereafter we expect total organic revenues to grow by at least 5 percent on average per annum, which is ahead of the forecasted growth for the global content market.”
ITV said it is making 200 hours of “high-end” scripted content this year, meaning its ambition is to grow that to 400 hours by 2026. It also shared that it has 16 global formats produced in three or more countries in 2021, but plans to boost that figure to 20 by 2026.
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