ITV has posted a positive set of interim results for the six months to 30 June 2018 with total advertising revenue rising 2% to £890m and online revenues ballooning by 48% on the back of successful runs for both Love Island and The World Cup.
This saw total ITV revenue jump 8% to £1.848m over the period, glad tidings which have emboldened the broadcaster to flesh out its ‘more than TV’ as it repositions itself as a fully integrated producer broadcaster that isn’t solely reliant upon UK advertising.
In practice this will see ITV expand production output and create a scaled direct to consumer arm to encourage viewers to become customers by spending money on a range of content and experiences, with £40m to be invested in 2019 alone to make this dream a reality.
Chief executive Carolyn McCall said: “ITV will be more than TV – it will be a structurally sound integrated producer broadcaster where we aim to maintain total viewing and increase total advertising revenue; it will be a growing and profitable content business, which drives returns; and it will create value by developing and nurturing strong direct consumer relationships, where people want to spend money on a range of content and experiences with a really trusted brand.
“We will deliver this strategy by building greater capability in data, analytics and technology as well as developing the great creative and commercial talent ITV already has. Executing the strategy will enable us to continue to deliver sustainable returns to our shareholders.”
Looking ahead to the remainder of 2018 ITV expects total advertising to rise a further 1% for the nine months to the end of September, with a subdued third-quarter remaining largely flat owing to ongoing economic uncertainty.
England’s unexpected World Cup success led ITV to score its largest UK TV audience since the 2012 Olympics.