British-based broadcaster, global TV producer and distributor ITV has reported its full year results.
• Total external revenue up 2% to £3,132 million (2016: £3,064 million), driven by double digit growth in non-net advertiser revenues (NAR).
• Total ITV Studios revenue up 13% to £1,582 million (2016: £1,395 million), with 7% organic revenue growth, excluding currency.
• Online, Pay & Interactive up 7% to £248 million (2016: £231 million), with double digit growth in Online.
Carolyn McCall, ITV chief executive, said:
“There is no doubt that ITV’s operational performance in 2017 in a challenging environment was strong. ITV delivered a great viewing performance on-screen and online and double-digit revenue growth in video on demand advertising and ITV Studios. This gives us a solid foundation to build on for the next phase of ITV’s development.
“We are very focused on our strategic refresh. This will enable us to define a clear strategy and priorities that will highlight the opportunities and address the challenges that we face in an increasingly competitive media landscape. This project is well underway.
“We have had a great start to 2018. On-screen we have grown our viewing share and volume, and online we have continued to deliver double digit growth in viewing. We expect ITV Family NAR to be positive in the first half, with Q1 up 1% and growth in Q2 around the football.
“ITV Studios is seeing increasing demand for its formats and dramas, particularly in the UK and US, and we have over 60% of this year’s expected revenue already booked.”