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.”
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