Feeds

ITV scoffs at ad slump as production arm hauls in cash

What TV crisis?

Boost IT visibility and business value

ITV has reported a revenues 11 per cent higher, and profits 15 per cent higher than a year ago, before accounting for exceptional items and tax. Revenues topped £1.28bn and pre-tax profits were £235m.

The commercial broadcaster's primary revenue source – advertising – is weaker than a year ago, with spending flat this year. But ITV now sees more revenue from other sources. For example, it makes more of its own programmes that sell overseas. ITV's production arm, ITV Studios – which is what Granada TV is called these days – saw revenue rise 34 per cent, and non-ad revenues were £106m higher than a year ago, bringing in almost half of ITV's income.

Amazingly, foreigners want to watch The Jeremy Kyle show - and their broadcasters pay for it. Hell's Kitchen is another less obvious export.

ITV spent £275m buying back bonds at above par, resulting in a £36m interest charge. The broadcaster has bought back £937m of debt, and recorded £499m of borrowing on the balance sheet.

Online, pay and interactive revenue – which includes deals with Sky, LoveFilm and Netflix – was £47m, up 24 per cent on last year, but still a small part of the overall picture, and a number exceeded by "other commercial income" such as sponsorship, of £81m.

Viewing was down 1 per cent, with ITV1 losing 3 per cent of its audience. ®

Build a business case: developing custom apps

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.