Please wait...
Please wait...

ITV revenue gets production boost

UK commercial broadcast ITV has reported a sharp rise in first quarter revenue in large part thanks to growing contributions from production arm ITV Studios (ITVS).

Overall revenue for the three months to March 31 rose 15% to £652m (US$1bn). Within this, ITVS revenue soared 61% to £212m in Q1 due to the “front loaded delivery” of a number of shows, according to ITV CEO Adam Crozier.

“ITV Studios again performed strongly both in the UK and internationally – particularly in the US – with an encouraging number of new commissions,” said Crozier.

The production unit’s figures were boosted after it took over production of ITV1 flagship breakfast show, Daybreak.

Non-advertising revenue was up 13% to £565m, with broadcast and online revenue accounting for £440m of this – a 1% year-on-year increase.

Advertising revenue across ITV’s family of channels dropped 1% in the first quarter to £362m, which the company said was in line with the overall market.

However, it added that ad revenues were forecast to increase 3% in the first half of this year, owing to the broadcaster’s coverage of the Euro 2012 football tournament, which begins next month.

Revenues would be broadly flat for April, rising 6% for May and up between 12% and 17% for June, ITV predicted.

“We remain confident in our schedule with Euro 2012 in June and a strong autumn line-up,” said Crozier.

Meanwhile, ITV’s viewing share dropped by 2% in the four months to the end of April, despite a 4% increase for its portfolio digital networks.

It also saw a 24% rise in online and on-demand video views across all platforms, from 90 million views in Q1 2011 to 110 million views in Q1 this year.


Please wait...