X Factor boosts profits for ITV

AOL Money Staff
X Factor
X Factor

The popularity of The X Factor and Downton Abbey has helped profits rise 24% at ITV but the broadcaster warned advertising revenues have dropped in early 2012.

ITV, which is also home to Coronation Street, said profits rose to £398 million in 2011 after it gained market share, driven by the strong performance of its digital channels, although there was a 1% decline at its flagship ITV1.