Feeds

ITV scoffs at ad slump as production arm hauls in cash

What TV crisis?

Remote control for virtualized desktops

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
BT said to have pulled patent-infringing boxes from DSL network
Take your license demand and stick it in your ASSIA
Right to be forgotten should apply to Google.com too: EU
And hey - no need to tell the website you've de-listed. That'll make it easier ...
prev story

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Reducing the cost and complexity of web vulnerability management
How using vulnerability assessments to identify exploitable weaknesses and take corrective action can reduce the risk of hackers finding your site and attacking it.