ITV sees advertising revenue growth as Rugby World Cup host broadcaster
ITV saw broadcast advertising revenue (NAR) grow by 8 per cent during the third quarter with net family NAR forecast to grow by 5 per cent for the full year following success from screening the Rugby World Cup.
The commercial broadcaster, which has also agreed the acquisition of UTV, revealed that revenue had increased by 13 per cent to £2,045m in its third quarter figures year-on-year, while broadcast and online revenue was up by 7 per cent to £1,528m.
Third quarter family NAR was up by 6 per cent and Online, Pay and Interactive grew by 29 per cent.
Non NAR revenue grew by over a fifth (22 per cent) to £1,085m.
Adam Crozier, chief executive of ITV, said that the channel was on track for double digital profit growth as it strengthened both in the UK and internationally.
“As we expected, share of viewing has improved in the second half driven by strong performances in Daytime, the Soaps and the Rugby World Cup, and continuing this trend remains a key focus for the business. We're also strengthening our broadcast business with the proposed acquisition of the television assets of UTV,” he continued.
“ITV Studios goes from strength to strength with revenue up 28 per cent driven by good organic growth, particularly from the US and Global Entertainment, and our acquisitions, including Talpa our largest to date, are continuing to deliver. Our US dramas have performed well with Aquarius and The Good Witch both recommissioned while in the UK we have a strong pipeline of new drama coming through including Beowulf, Jericho, Victoria and Tutankhamun as well as returning dramas Unforgotten and Poldark.”
He added that ITV was “confident” of further growth for the remainder of the year going into 2016 as it continued “to exploit our integrated producer broadcaster model”.