Studios, Online divisions drive ITV in Q3 | Major Businesses | Business
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Indicating yet again just how much its revenue growth is transitioning from the traditional, ITV has delivered steady third quarter and nine-monthly results that the UK’s leading commercial broadcaster described as very much as  expected.
ITV 25Jan2018
For the nine months ended 30 September 2018, ITV posted total external revenue was up 6% at £2.257 billion, up 6% on an annual basis, with growth across all parts of the company’s business line. As has been the case in the recent past, star performer was ITV Studios where total revenue was up 10% compared with that reported a year ago at £1.107 billion with organic revenues up 7%.

By contrast, ITV’s total advertising — including NAR, online and sponsorship — was up 2% year-on-year £1.285 billion, with 43% growth in online advertising resulting in a total of . In a stark indication of future trends, this fugue is expected to be broadly flat over the full year with continued double-digit growth in online. Revenue at the company’s Broadcast & Online division was up 2% to £1.509 billion.

During the nine months, ITV total viewing across the ITV Family and the ITV Hub online video player increased 5% compared with Q3 2017 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.

The end of Q3 results reflected the company’s confidence in what it called robustness of its integrated producer broadcaster model and the strength and breadth of its content, said ITV chief executive Carolyn McCall, adding that the performance augured well for the end of year total. Yet she conceded that the broadcaster was seeing some softening in ITV Family NAR in Q4 due to the increasingly uncertain economic environment and as a result we expect total advertising to be down around 3% in Q4 and broadly flat over the full year.

“Over the full year we expect to deliver good growth in total ITV Studios revenues and profit in line with our expectations,” she noted. “Organic revenue growth is expected to be around 3% over the full year...We continue to have a strong pipeline of programmes which will be delivered in 2019 and beyond, with entertainment shows in new territories, including Love Island US and Sunday Night Takeaway in Australia.

“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.”