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Advertising and World Cup boost ITV profits 11% | Advertising and World Cup boost ITV profits 11% |
(about 1 hour later) | |
Profits at ITV, Britain's biggest free-to-air commercial broadcaster, rose thanks to the World Cup boosting its market share and a pick-up in advertising. | Profits at ITV, Britain's biggest free-to-air commercial broadcaster, rose thanks to the World Cup boosting its market share and a pick-up in advertising. |
First half profit rose 11% to £322m as net advertising revenue rose 7%, faster than the market as a whole. | First half profit rose 11% to £322m as net advertising revenue rose 7%, faster than the market as a whole. |
Chief executive Adam Crozier said the economic recovery was leading to an improved advertising market. | |
Its production business - ITV Studios - saw earnings rise 14%. | Its production business - ITV Studios - saw earnings rise 14%. |
New productions slated for 2015 include Texas Rangers and Aquarius in the United States, and Jekyll & Hyde, Jambusters and Thunderbirds Are Go in the UK. | New productions slated for 2015 include Texas Rangers and Aquarius in the United States, and Jekyll & Hyde, Jambusters and Thunderbirds Are Go in the UK. |
ITV is also now the biggest unscripted independent production company in the US after buying 80% of Leftfield Entertainment, a producer of reality programmes such as Pawn Stars, Counting Cars, and Real Housewives of New Jersey. | ITV is also now the biggest unscripted independent production company in the US after buying 80% of Leftfield Entertainment, a producer of reality programmes such as Pawn Stars, Counting Cars, and Real Housewives of New Jersey. |
Mr Crozier said: "Share of viewing improved during the second quarter, helped by the Fifa World Cup, and we're confident of our strong Autumn schedule with both new and returning drama and entertainment." | |
ITV shares rose briefly and then fell back after the the results were announced. | ITV shares rose briefly and then fell back after the the results were announced. |
They have been close to 13 year highs on take-over rumours which started when John Malone's Liberty, owner of British cable TV group Virgin Media, bought a 6.4% stake in the broadcaster earlier his month from satellite broadcaster BSkyB. | They have been close to 13 year highs on take-over rumours which started when John Malone's Liberty, owner of British cable TV group Virgin Media, bought a 6.4% stake in the broadcaster earlier his month from satellite broadcaster BSkyB. |
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