Studios and online performance give ITV first quarter boost
ITV has marked a welcome uptick in viewers across its network of channels over the first quarter of 2018, logging a 4% increase in total minutes viewed across the board, a 6% rise in time spent viewing online and a 31% increase in ITV Hub viewers.
Viewers flock to Coronation Street & Emmerdale in ‘strong’ first quarter for ITV
The rising tide of viewers helped bring total external revenues up with it by 5% to £772m, propelled by double digit growth of 11% to £382m at ITV Studios and a 41% boost to online revenue.
Total advertising, including net advertising revenues (NAR), online and sponsorship, was also given a welcome leg up to rise by 14%.
Chief executive Carolyn McCall stated: “Highlights include strong performances from Coronation Street and Emmerdale, the successful return of Dancing on Ice and both Saturday Night Takeaway and our long running drama Vera delivering their best series ever. And we have an exciting schedule for the rest of the year including Britain's Got Talent, the Football World Cup, the return of Love Island and our new period drama Vanity Fair, from the producers behind Victoria and Poldark.
“While the economic environment remains uncertain online advertising continues to grow strongly. We expect ITV total advertising to be up 2% over the first half, but profits will reflect the timing of the football World Cup. Over the full year we are on track to deliver double digit growth in online revenue and good organic revenue growth in ITV Studios.”
Not one to rest on its laurels ITV is on a range of content to maintain momentum through the rest of the year including a reworking of The War of the Worlds, Unforgotten and Snowpiercer.
ITV previously blamed a slump in NAR from £1.7bn in 2016 to just £1.6bn in 2017 on an 'uncertain economic environment'.
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