Member Article

ITV confident of 2013 revenue growth

ITV reports revenues are up 6% to £465m, driven by growth in its online services and non advertising revenues in the first quarter of 2013.

The broadcaster said revenue growth was set for double digits, but the front-loaded delivery of programmes in 2012 meant Q1 was slightly weaker.

ITV recently completed the acquisition of The Garden Productions Ltd and High Noon Entertainment, and said it was on target to make £20m of cost savings over the year.

Adam Crozier, ITV plc Chief Executive, said: “We’ve had a good start to the year with ITV outperforming the TV ad market in Q1, a strong performance on screen with the family share of viewing increasing 2% and further strong growth in Online, Pay and Interactive.

“As we anticipated, the quarterly pattern of demand from advertisers in 2013 is very different to 2012 although we expect it to even out over the course of the year. While we are cautious about the outlook for TV advertising for 2013, our objective remains to outperform the market over the full year.

“Given the longer term visibility we have in our Studios revenues we’re confident that we will deliver double digit growth this year. We continue to build on Studios’ organic strength with acquisitions in key creative markets - most recently The Garden in the UK and High Noon Entertainment in the US.

“Looking across the whole year, we again expect to deliver good growth in all parts of the business as we continue to strengthen and rebalance ITV in line with the Transformation Plan.”

This was posted in Bdaily's Members' News section by Tom Keighley .