ITV revenues rise 11% to £1.45 billion
Driven by a strong television advertising recovery, ITV has revealed today that revenues are up by 11%.
This is a good increase for the broadcaster, which is being helped through by highly rated programmes such Britain’s Got Talent and Coronation Street. TV advertising revenue in the third quarter is up 16%, with the fourth quarter to be up 10%. ITV Studios external is down 10% to ?205 million.
The CEO of ITV, Adam Crozier has said that the economic outlook for 2011 is uncertain, although they will be cautious when planning. “The television advertising market has continued to recover strongly. However this does not disguise the significant challenges ITV faces and we remain focused on delivering the five-year Transformation Plan.
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.”