ITV Worldwide triples investment

Distrib to pump over $20m into development

By DOMINIC SCHREIBER

LONDON — ITV Worldwide, the international arm of Blighty’s leading commercial web, is tripling its investment in development and acquisitions as it looks to expand its slate of programming from independent producers.

Announcing the increased coin at a reception held Thursday night, ITV Worldwide prexy Peter Iacono said the money would be used to co-finance and gap-finance productions, with a focus on long running drama series, TV movies and entertainment skeins.

While no figure was given, the investment is believed to be in excess of £10 million ($20 million) this year.

“We are looking to enhance our existing relationships and expand into new relationships,” said Iacono, who joined ITV from Sony earlier this year. “Our philosophy is to enable creative people to be creative — to make compelling entertainment for ITV Worldwide to distribute.”

As well as handling the international distribution of ITV’s in-house productions, such as drama franchise “Prime Suspect,” the distrib also works with a wide range of indie producers, both in the U.K. and overseas.

More recently, ITV has also acquired or invested in a number of independent producers, including Mammoth Screen, 12 Yard and Swedish formats outfit Silverback.

In the U.S., it has also been forging closer ties with producers such as Jaffe/Braunstein and Les Alexander (“Dear Prudence”), and Iacono added that he was keen to pick up more programming from the market, in the wake of the writers' strike.

“The model is changing,” he said. “It opens new opportunities.”