ITV Q1 boosted by online revenue
May 10, 2018
ITV, the UK commercial broadcaster, has reported an upbeat Q1, declaring that in the first part of the year it delivered “a strong performance on and off screen”.
Total external revenue was up 5 per cent at £772 million (€884.4m) with continued growth across all parts of the business.
Carolyn McCall, ITV Chief Executive, said: “We have started the year well both on and off screen. Total external revenue increased 5 per cent, driven by 11 per cent growth in ITV Studios revenue and 41 per cent growth in online revenue. ITV total advertising which includes NAR, online and sponsorship was up 3 per cent.”
“Our strong viewing performance has continued, with total minutes viewed across the ITV Family up 4 per cent, share of viewing up 6 per cent and time spent viewing online on the ITV Hub up 31 per cent. This reflects the strength and breadth of our schedule across our platforms. Highlights include strong performances from Coronation Street and Emmerdale, the successful return of Dancing on Ice and both Saturday Night Takeaway and our long running drama Vera delivering their best series ever. And we have an exciting schedule for the rest of the year including Britain’s Got Talent, the Football World Cup, the return of Love Island and our new period drama Vanity Fair, from the producers behind Victoria and Poldark. ”
“ITV Studios has delivered a strong performance with organic revenue up 9 per cent. We have a solid slate of new and returning programmes internationally for both broadcasters and OTT platforms with Unforgotten, The War of the Worlds, Snowpiercer, Good Witch, Suburra, The Voice, The Chase, Big Star’s Little Star, Queer Eye for the Straight Guy, The Four and Forged in Fire.”
“While the economic environment remains uncertain online advertising continues to grow strongly. We expect ITV total advertising to be up 2 per cent over the first half, but profits will reflect the timing of the Football World Cup. Over the full year we are on track to deliver double digit growth in online revenue and good organic revenue growth in ITV Studios. The strategic refresh is progressing well with great input and engagement from ITV people across the business. I look forward to sharing an update at our interim results in July.”