Strong Performance for ITV

LONDON: ITV delivered a 13-percent increase in revenue to £565 million ($909 million), driven by strong gains at ITV Studios.

ITV Studios contributed more than a third of the total: revenues were up 61 percent to £212 million ($341 million).

Broadcasting and online revenue was relatively flat, up 1 percent to £440 million ($708 million). Non-advertising revenue increased 43 percent to £290 million ($468 million). ITV is expecting non-advertising revenue in the first half to be ahead of the market, up around 3 percent, benefiting from Euro 2012.

Adam Crozier, ITV’s chief executive, said: "We continue to push forward with our five year Transformation Plan with external revenues up 13 percent in the first quarter of the year—driven by an increase in non-advertising revenues—in line with our strategy of rebalancing and growing the business.

"ITV Studios again performed strongly both in the U.K. and internationally—particularly in the U.S.—with an encouraging number of new commissions. ITV Studios revenues rose by 61 percent in Q1 to £212 million reflecting the front loaded delivery of a number of shows, as well as the inclusion of ITV Breakfast production revenues now that Daybreak is produced by ITV Studios. This positive Q1 phasing is as we expected, and puts ITV Studios on track to grow revenues this year at a similar rate to 2011.

"Share of viewing for ITV Family was down by 2 percent in the four months to the end of April, however we remain confident in our schedule with Euro 2012 in June and a strong Autumn lineup.

"ITV Family NAR started the year better than we anticipated but is nevertheless down 1percent in Q1. While the underlying television advertising market continues to be broadly flat, we expect ITV’s ad revenue to be up around 3 percent in H1, helped by Euro 2012. Going forward we expect to outperform the TV ad market in H1 and for the year as a whole."