Crozier details 5 year plan to MediaTel TV Summit

In five years time, ITV will have “delivered on strategy; re-balanced the business (advertising revenue is an over-reliant 74% currently); be leaders in great content; and have taken adavntage of new platforms.” So said ITV CEO Adam Crozier yesterday in a very open interview and question session at the MediaTel TV Summit.

“I hope to still be chief exec of ITV in five years’ time…TV is a long-term business.”

He agreed with MediaTel columnist Raymond Snoddy that this plan was not very different to that of his predecessors, but said he did not want to dwell on the past.

“I have to be honest about the issues we need to overcome. Hindsight is a great thing, and the benefit of being new is that you get to see things with fresh eyes. The issue has not been a failure of strategy, it has been a failure to execute.”

“Issues have not been faced up to over the last ten years… new areas were seen as threats. The organisation tried to slow trends down instead of seeing them as an opportunity.”

Crozier was very candid about what needed fixing:
“Internally we were not operating as one ITV…not working together. There was a dysfunctionality between the broadcast and network business; too much discussion; no decisions; no creative leadership in ITV; people worked independently.”

“People (within ITV) recognise there is a problem. That’s what you need to fix it. People are up for it, and it makes the chances of success much greater.”

And he pointed to opportunities for growth around developing content; developing more in pay-TV; micro-payments; digital; merchandising; product placement and sponsorship, whilst acknowledging that “Google TV is a threat, as are others, but we need to focus on our own strengths.”

“When I arrived ITV was talking to Hulu – I’ve put a stop to it. ITV.com is our shop. Once we’ve got it great, we will put it on the high street, then maybe one day franchise it.”

And with regard to increasing revenues from programme sales:

“We need to attract back on-screen talent and incentivise those people again. It’s a great strength that we can showcase our own work. Then we will start to see some commercial upside. Also, we will acquire some production companies, take some shares in others.”

“There is no silver bullet. It wil be hard work.”