ITV Sees Q3 Revenue Growth

LONDON: ITV reported an 8 percent increase in overall revenues to £1.8 billion ($2.84 billion) and a 7 percent gain in broadcast and online revenues.

Revenue from Broadcast & Online reached £1.4 million ($2.2 million). Advertising revenues were up 6 percent for the first nine months. Online, Pay & Interactive was a strong performer, up 24 percent in the period.

At ITV Studios, revenue was up 10 percent to £609 million ($956.6 million), thanks to acquisitions. In the last two years, ITV has purchased Gurney Productions, Leftfield Entertainment, Thinkfactory Media and Big Talk. This segment is expected to have full-year revenues increase by around £100 million ($157 million).

Adam Crozier, the chief executive of ITV plc, said: “We’ve made further strong progress in growing all parts of ITV and we’re on track to deliver another year of double digit profit growth.

"Looking ahead to next year we anticipate continued revenue growth right across the company. We expect Studios to grow revenue by a similar amount to this year driven by the full year benefit of our acquisitions and a return to organic growth fuelled by the global demand for high-quality content.

In 2015, our investment in scripted content will begin to deliver value with new U.K. drama, including Jekyll and Hyde, The Trials of Jimmy Rose and Home Fires, and U.S. dramas, including Aquarius, Texas Rising and The Good Witch. We’ll also have the benefit of Thunderbirds Are Go as well as a U.S. version of Saturday Night Takeaway for NBC.

Our Broadcast business will benefit from our ongoing creative investment including a full year of our two new channels and the positive economic and advertising outlook. In 2015 we will focus on improving SOV and we have a strong program schedule, with new and returning drama including the second series of Broadchurch, as well as the Rugby World Cup. Online, Pay and Interactive is again expected to show double digit growth helped by ITV Encore and the continued demand for VOD advertising.

Based on our performance to date we are confident that as we continue to execute our strategy we will deliver further growth across the business both creatively and commercially, in the U.K. and internationally. Our cash generation remains strong and, as we move into next year, we will continue to show capital discipline and balance the need to invest for future growth opportunities with increasing returns to our shareholders.”