ITV reports revenue boost as a result of international commissions

UK commercial broadcaster ITV saw its first quarter revenues rise by 13% as a result of strong performances from its production arm and its international division.

ITV’s production and distribution arm ITV Studios, which includes the company’s international arm, reported a 61% increase of revenues to £212 million (€263 million) as a result of the delivery of series including Julian Fellowes mini-series Titanic.

Revenue at international production division, meanwhile, increased by 95% in the quarter to £125 million. 
The broadcaster expects its advertising revenues to increase by up to 17% in June as a result of the Euro 2012 soccer tournament and the Queen’s diamond jubilee. However, the company posted a 1% fall in television advertising revenue in the first quarter of the year.

“We continue to push forward with our five year transformation plan with external revenues up 13% in the first quarter of the year – driven by an increase in non-advertising revenues – in line with our strategy of rebalancing and growing the business,” said ITV chief executive Adam Crozier. “ITV Studios again performed strongly both in the UK and internationally – particularly in the US – with an encouraging number of new commissions.”

Tags: ITV, UK