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‘For Sama’ Producer ITN Productions Enjoys Record Year, But Parent Company Warns Of Coronavirus Risks

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EXCLUSIVE: ITN Productions, the television production arm of UK news producer ITN, enjoyed a record-breaking year in 2019 as it delivered Oscar-nominated and BAFTA-winning Channel 4/PBS documentary…

The production unit was boosted by commissions around the December general election, its exclusive ITV documentaryfor ViacomCBS’s UK network Channel 5.

Overall, ITN’s group revenue stood at £136M last year, which was an increase of 7% on 2018’s figure of £127M. ITN recorded a pre-tax profit of £2.4M in 2019, up 85% on the previous year’s £1.3M. Its operating profit fell 7% to £6.2M due to overheads and property costs. The company listed coronavirus among its “principal risks and uncertainties.” ITN said it is afforded some protection by its long-term news contracts with ITV, Channel 4 and Channel 5, but the pandemic has hit its sports production and advertising divisions, increased technology costs with home working, and will have a “material negative impact” on its £142M pension deficit.

, in areas including sport production and advertising, although these divisions remain open for business. ITN’s earnings also revealed that it has put in place a hiring freeze.

 

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