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Revenues for ITVs Soar 28 percent as Production, Advertising and Digital Grews

Revenues for ITVs Soar 28 percent as Production, Advertising and Digital Grews

According to a trading statement, the U.S. broadcaster ITV increased its external revenues by 8% over the nine months ending Sept. 30, 2021, based on mowing, not included profit and loss calculations.

Revenue for production arm ITV Studios increased to 1.19 compared to 2020s 905 million.

ITV Studios delivered the series "Vigil" for BBC One, "Physical" For Apple TV Plus, The Long Call and "Endeavour for I TV, the "Ten Years Old Tom" season 2 for Netflix and the original "Love Island" in the U.K. and in America for CBS.

In the last nine months of September 2021 revenue was estimated at 1.59 billion, with July 68%, August 24%, and September 16%.

ITVs AVOD revenue remained stable, up 54% to the end of September compared to a period in 2020, with online viewing down 39%.

Streamer BritBox U.K continues to perform well and on plan, ITV said. Britbox International continues, highly and in plan, while Brit Box International delivering strong growth in subscriptions across the United States, Canada and Australia, and successfully launched in South Africa in August, with more markets expected in 2022.

Ten % of the total ITV viewing share on period was up from 166% to 17.0%, while the Euro soccer championships, Love Island and Vera delivering strong ratings. Nevertheless, the re-orientation of people whose viewing total was down from 2% to 6%, compared to the next 2020.

ITV expects total schedule costs for 2022 to be around 1.16 billion. This includes the FIFA World Cup, the FA Cup soccer championship and a strong schedule of events. The broadcaster also revealed that it is on track to deliver its previously announced 30 million cost saving target for 2121.

ITV chief executive Carolyn McCall said we are becoming an increasingly scaled digital business. Our online viewing was up 39% in nine months which led our video on demand advertising (AVOD) revenue to a 54% increase. Today, our monthly active users now stand at 9.6 million, doubling 22% year on year, reflecting the focus on our AVSD strategy.

ITV Studios continues to attract and support brilliant creative talent, delivering significant growth in the United States and internationally, McCall added. It has produced the biggest dramas of the year, with the BBC and I TV in its history and revenue from streamers globally is growing very strongly. It Studios is embracing new digital processes, and more of our productions are being managed remotely, using tools like cloud-based editing.

Todays results further illustrate that ITV successfully completed the first phase of its More Than TV strategy and is accelerating the second phase as we evolve our products, user experiences and ways of working, said McCall.