Revenues at ITV plc gained 5 percent in Q1, boosted by the performance of its production and distribution division and online revenues.
ITV plc reported first-quarter revenues of £772 million ($1 billion). Broadcast and online revenues totaled £526 million ($710 million), a 3-percent gain. ITV Studios brought in £382 million ($516 million), up 11 percent.
“We have started the year well both on and off screen,” said Carolyn McCall, chief executive. “Total external revenue increased 5 percent, driven by 11 percent growth in ITV Studios revenue and 41 percent growth in online revenue. ITV total advertising, which includes NAR [net advertising revenues], online and sponsorship, was up 3 percent.”
She continued, “While the economic environment remains uncertain, online advertising continues to grow strongly. We expect ITV total advertising to be up 2 percent 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.”