ITV boosts ad revenue by 8%

ITV saw advertising revenue rise 8% in its third quarter results, with total external revenues up 15% to £2,045 million.

Likely driven by the arrival of the Rugby World Cup, chief executive Adam Crozier said the commercial broadcaster was on track for another year of double digit profit growth, with share of viewing also improving in the second half.

“Continuing this trend remains a key focus for the business,” Crozier said. “We’re also strengthening our broadcast business with the proposed acquisition of the television assets of UTV.”

ITV announced last month that it would be buying Northern Ireland’s biggest commercial channel for £100 million, giving ITV access to 13 of the 15 regional licences for the Channel 3 network as well as UTV Ireland, a new channel dedicated to the Republic of Ireland.

In the nine months to the end of September, ITV Studios also performed well with revenue up 28%, driven by solid organic growth, particularly from the US and Global Entertainment, and new acquisitions – including The Voice creator Talpa Media for £355 million, ITV’s largest to date.

Crozier said that ITV expects good growth for the remainder of 2015 and into 2016 as it continues to “build a global content business of scale”.