ITV Studios drives revenue growth for broadcaster

ITV delivered 6% growth in revenues over the first nine months of the year, driven by strong performances across ITV Studios, advertising and online.

The broadcaster posted total external revenues of £2.6bn with around £1.5bn coming from broadcast and online and £1.1bn originating from ITV Studios, which is up 10% over the period last year (£1bn).

Meanwhile, the broadcaster posted advertising revenues – which includes ITV channels’ net advertising revenues as well as online VOD and sponsorship – of £1.29bn, up 2% over 2017 figures (£1.27bn).

Overall, advertising revenue for the year is expected to be broadly flat over the full year, with continued double-digit growth coming from online.

The results revealed that online viewing of the Love Island broadcaster’s catch-up service ITV Hub was up by 37%.

ITV CEO Carolyn McCall said the broadcaster’s performance from January to end of September was “in line with expectations” and highlighted the 10% growth of revenues from ITV Studios as well as the boost in online viewing.

“Our strong on-screen and online viewing performance has continued with ITV total viewing, which measures our viewing across the ITV Family and the ITV Hub, up 5% driven by a 4% increase in total minutes viewed across the ITV Family and a 37% increase in the time spent viewing online on the ITV Hub,” she said.

ITV’s forthcoming programs for the remainder of the year and early 2019 include dramas Cheat, Cleaning Up and The Widow in addition to I’m A Celebrity and Dancing On Ice.

McCall indicated that full-year revenues will be lower than expected due to no Hell’s Kitchen deliveries in 2018 and a delay with TNT’s adaptation of Snowpiercer, which will now air next year.

The exec said ITV will reveal its SVOD plans in February.

“We are very focused on executing our strategy to create a stronger, structurally sound business, building on our strong operating performance in the areas of the business which are under our control. We are making good progress with implementing the strategy – the investment and cost saving programmes which we set out in July are on track, and as previously mentioned, we will update the market in February on our SVOD plans,” she said.