Tuesday, 1 August 2017

ITV's ad sales fell by 8% Y-o-Y in H1 2017

"UK commercial broadcaster ITV has reported its H1 results, with a decline in advertising revenue blamed on “ongoing economic and political uncertainty”.
Advertising revenue fell 8 per cent to £769 million (€862m) in the first six months of the year. However, that fall was offset by growth at ITV studios, which makes popular shows such as The Voice and Poldark. The broadcaster’s sales rose by 5 per cent.
Peter Bazalgette, ITV Executive Chairman, commented: “ITV’s performance in the first six months of the year is very much as we anticipated and our guidance for the full year remains unchanged. Total external revenue was down 3 per cent with the decline in NAR partly offset by continued good growth in non-advertising revenues, which is a clear indication that our strategy of rebalancing the business is working.  We are confident in the underlying strength of the business as we continue to invest both organically and through acquisitions.”
“ITV Studios total revenues grew 7 per cent to £697 million including currency benefit. ITV Studios adjusted EBITA was down 9 per cent at £110 million. This was impacted by our ongoing investment in our US scripted business and the fact that the prior year includes the full benefit of the four year licence deal for The Voice of China. We have a very strong pipeline of new and returning drama and formats and we are building momentum in our US scripted business. We continue to grow our global family of production companies and in H1 we further strengthened our international drama and format business with the acquisition of Line of Duty producer World Productions in the UK, Tetra Media Studio in France and Elk Production in Sweden.”

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