ITV’s Revenues Rise

November 19, 2013 World Screen Top Stories
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LONDON: According to an interim management statement from ITV plc for the nine months ended September 30, total revenues rose by 5 percent and non-advertising revenues by 11 percent.

The total revenues from broadcast and online and ITV Studios reached £1.897 billion ($3.054 billion), a 5-percent gain year on year. After taking into consideration internal supply costs, total external revenues were up 6 percent year on year, to £1.664 billion ($2.679 billion).

Non-advertising revenues (NAR) were up 11 percent to £810 million ($1.30 billion). There was 1-percent growth in NAR and 17-growth in online pay and interactive. ITV Broadcast & Online revenue was up 3 percent, reaching £1.342 billion ($2.160 billion).

ITV Studios continues its positive growth, with revenues increasing 11 percent to £555 million ($893 million). Of this growth, the majority has come from acquisitions.

Alongside the revenue growth, ITV also had cost savings, reducing around £25 million ($40 million) from overheads.

Adam Crozier, ITV's chief executive, said: “We continue to make good progress with our strategy of growing and strengthening ITV both creatively and commercially, and all parts of the business are performing well.

"ITV is now a stronger and more balanced business and as we move into 2014 we will continue to see growth across the company. We expect good growth in ITV Studios, primarily driven by our recent acquisitions. The television advertising market is showing signs of improvement, which will benefit the core Broadcast business, and we expect to deliver double digit revenue growth in Online, Pay & Interactive.”