We are More than TV.

We connect with millions of people every day, make content they can't get enough of and reflect and shape the world we live in…

…and we do all this through the power of creativity.

Our strategic vision

We will be a digitally led media and entertainment company that creates and brings our brilliant content to audiences wherever, whenever and however they choose.

Alternative Performance Measures (APMs)

The Strategic Report explains in detail how we have performed this year and sets out, amongst other things, a fair review of the business, a balanced and comprehensive analysis of our performance, the use of key performance indicators to explain the progress we have made, a description of the principal risks and uncertainties facing the Company, and an indication of potential future developments.

The Strategic Report is prepared in line with the relevant provisions of the Companies Act 2006 and the Company has had regard to the guidance issued by the Financial Reporting Council. It is intended to provide shareholders and other stakeholders with a better understanding of the Company, of its position in the markets within which it operates, and of its prospects. In setting out the Company's main risks and uncertainties, an indication of potential future developments, and in other content, this report and accounts contains statements that are based on knowledge and information available at the date of preparation of the Strategic Report, and what are believed to be reasonable judgements, and therefore cannot be considered as indications of likelihood or certainty.

A wide range of factors may cause the actual outcomes and results to differ materially from those contained within, or implied by, the various forward-looking statements in this Annual Report and Accounts. None of these statements should be construed as a profit forecast.

We use both statutory and adjusted measures in our Strategic Report. The latter, in management's view, reflects the underlying performance of the business and provides a more meaningful comparison of how the business is managed and measured day-to-day. A full reconciliation between our reported and adjusted results is provided in our Alternative Performance Measures section on pages 54 and 55. Our KPIs are set out on pages 24 to 27.

  • 1. The Strategic Report also refers to total revenue, which includes all ITV revenue, both internal and external.

  • 2. Non-advertising revenue includes all ITV revenue (both internal and external), and excludes total advertising revenue.

  • 3. EBITA before exceptional items has been adjusted to reflect the inclusion of production tax credits ('adjusted EBITA').

Notes

4.

Strategic Report

Reported net debt includes IFRS 16 lease liabilities. Leverage is reported net debt to adjusted EBITDA.

Strategic Report

2020 Highlights 2

ITV at a Glance 4

Chairman's Statement 6

Chief Executive's Report 8

Investor Proposition 15

Market Review 16

Our Strategy 20

Our Business Model 22

Key Performance Indicators (KPIs) 24

Operating and Performance Review 28

Social Purpose 42

Our People 50

Alternative Performance Measures 54

Finance Review 56 Task Force on Climate-related

Financial Disclosures (TCFD) 62

Our Commitment to Section 172(1) 67

Non-Financial Information Statement 69

Risks and Uncertainties 72

Governance

Chairman's Governance Statement 88

Board of Directors 90

Management Board 92

Corporate Governance 94

Nominations Committee Report 111

Audit and Risk Committee Report 114

Remuneration Report 126

Directors' Report 152

Financial Statements

Financial Statements 157

Independent Auditor's Report 158

Primary Statements 167 ITV plc Company Financial

Statements 232

Additional Information

Glossary 246

Gordon, Gino and Fred: Road Trip was ITV's biggest factual show in 2020, with an average of 6.6 million viewers across the series.

Beat The Chasers was the biggest new entertainment series launch since 2007. It averaged 6.4 million viewers across the series.

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ITV plc Annual Report and Accounts 2020

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ITV plc published this content on 24 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2021 12:08:13 UTC.