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16/11/2010
ITV Celebrates Revenue Boost
ITV is bucking the recessionary trend with news today of an 11% year-on-year increase in revenue.
Covering the first nine months of 2010 the broadcaster has taken in revenues of £1.45bn and forecasts that the TV advertising recovery will continue until the end of the year.
Anticipated TV ad revenues will be up 10% year-on-year in the final three months of 2010, reinforcing optimistic forecasts for December.
ITV's ad revenue was up 16% year-on-year for the first nine months. However, ITV's advertising recovery was offset to some extent by declining revenues from ITV Studios, with income from commissions from other broadcasters down 10% year-on-year in the first nine months to £205m.
Despite the strong recovery of advertising, the broadcaster said it was planning "cautiously" for 2011 due to the "uncertain economic outlook".
ITV Chief Executive Adam Crozier pointed out that while the television advertising market has continued to recover strongly, this does not disguise the significant challenges ITV faces: "We remain focused on delivering the five-year Transformation Plan," he said.
"We are forging ahead with implementing our first phase priorities; we have launched HD versions of ITV2, ITV3 and ITV4 on the Sky platform, we have agreed a new three-year deal for both The X Factor and Britain's Got Talent and we have completed the sale of Screenvision.
"The economic outlook for 2011 is uncertain and we continue to plan on a cautious basis," he said.
(BMcC/GK)
Covering the first nine months of 2010 the broadcaster has taken in revenues of £1.45bn and forecasts that the TV advertising recovery will continue until the end of the year.
Anticipated TV ad revenues will be up 10% year-on-year in the final three months of 2010, reinforcing optimistic forecasts for December.
ITV's ad revenue was up 16% year-on-year for the first nine months. However, ITV's advertising recovery was offset to some extent by declining revenues from ITV Studios, with income from commissions from other broadcasters down 10% year-on-year in the first nine months to £205m.
Despite the strong recovery of advertising, the broadcaster said it was planning "cautiously" for 2011 due to the "uncertain economic outlook".
ITV Chief Executive Adam Crozier pointed out that while the television advertising market has continued to recover strongly, this does not disguise the significant challenges ITV faces: "We remain focused on delivering the five-year Transformation Plan," he said.
"We are forging ahead with implementing our first phase priorities; we have launched HD versions of ITV2, ITV3 and ITV4 on the Sky platform, we have agreed a new three-year deal for both The X Factor and Britain's Got Talent and we have completed the sale of Screenvision.
"The economic outlook for 2011 is uncertain and we continue to plan on a cautious basis," he said.
(BMcC/GK)
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ITV plc, the company formed by the merger of Carlton and Granada, has launched its shares on the London Stock Exchange. All dealing in Carlton and Granada shares closed on Friday, while ITV plc shares opened at 141 pence, reaching 146.25p by 4pm.
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SMG settles differences with ITV over digital rights
Following the recent sale of the Scottish Media Group's (SMG) 25% GMTV stake to ITV plc, the two companies have reached an agreement on the use of the ITV brand name and the use by ITV plc of SMG's digital spectrum in Scotland.
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