ITV has successfully diversified its revenue base away from advertising and now generates 45% of its income from non-advertising sources. The group has made 27 acquisitions or JV investments over the last ten years, of which 20 have been traditional production entities and a further three in the digital production space. Part of the group's strategy has been an internationalisation of its production base with more than half of the traditional production assets being US-based. Analysis of its investment portfolio and revenue development, however, reveals that the group has neglected to fully shore-up key areas, including pay TV opportunities, international channel development, OTT distribution and online video. ITV now needs to build on its World-class production base in order to successfully navigate TV's future. Full analysis in our latest report: Re-inventing the Cash Cow: ITV Now and Next.
Wheel of Fortune: A decade of ITV investment