ITV Studios, producer of reality series Love Island and terror drama Bodyguard, continues to perform well for the British commercial broadcaster with revenues up 10% over the first nine months of the year.
The results, which are part of ITV’s Q3 trading statement and run to the end of September 2018, helped total external revenue grow 6%.
It also noted that online viewing on its digital service ITV Hub was up 37% and ITV CEO Carolyn McCall revealed that it would make an update on its SVOD plans in February.
McCall also pointed to forthcoming dramas such as Cheat, Cleaning Up, Manhunt and The Widow as well as World on Fire, Noughts and Crosses, Wild Bill, The Bay and Zero Zero Zero and CBS’ remake of Love Island.
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Total external revenue was up 6% from £2.14B to £2.23B, while ITVS revenue was up 10% from £1B to £1.1B. Total advertising was up 2% with 43% growth in online advertising, while advertising over the full was expected to be broadly flat.
McCall said overall performance for the first nine months was “in line” with its expectations.
“ITV Studios has delivered a strong performance in the first nine months with organic revenue up 7%. Over the full year we expect to deliver good growth in total ITV Studios revenues and profit in line with our expectations. Organic revenue growth is expected to be around 3% over the full year as a result of no Hells Kitchen deliveries in 2018 compared to two in 2017 and Snowpiercer now being delivered in 2019 rather than Q4 2018 as originally anticipated. We continue to have a strong pipeline of programmes which will be delivered in 2019 and beyond, with entertainment shows in new territories, including Love Island U.S. and Sunday Night Takeaway in Australia, new dramas including World on Fire, Noughts and Crosses, Wild Bill, The Bay and Zero Zero Zero and returning dramas Gormorrah and Line of Duty,” she said.
“Our strong on screen and online viewing performance has continued with ITV total viewing, which measures our viewing across the ITV Family and the ITV Hub, up 5% driven by a 4% increase in total minutes viewed across the ITV Family and a 37% increase in the time spent viewing online on the ITV Hub. This supports our confidence in the robustness of the ITV integrated producer broadcaster model and also reflects the strength and breadth of our content. We have an exciting schedule for the remainder of the year and into next year with entertainment shows I’m A Celebrity and Dancing On Ice, and dramas including Cheat, Cleaning Up, Manhunt and The Widow as well as the Rugby World Cup exclusively on ITV.”
“We are very focused on executing our strategy to create a stronger, structurally sound business, building on our strong operating performance in the areas of the business which are under our control. We are making good progress with implementing the strategy – the investment and cost saving programmes which we set out in July are on track, and as previously mentioned, we will update the market in February on our SVOD plans.”
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