In a bid to entice advertisers into big-money deals, Britain’s biggest commercial television network ITV is to pour £825 million ($1.28m; €1.31m) into new programming next year.
The record figure, a 7% hike on this year’s £775m, is part of a spending programme drawn up by Granada Media, the largest shareholder in ITV.
After a year in which ad revenues slumped and dTV platform ITV Digital went bankrupt, the network is beginning to recover, with audience share and advertising on the up.
It scored a hit with the latest reality-TV phenomenon, I’m A Celebrity, Get Me Out of Here, which helped lift ITV’s prime-time audience to 34%. Rights to the show have been sold to American network ABC for an estimated £10m.
Data sourced from: Financial Times; additional content by WARC staff