By Max Clarke
Profits are up at ITV (LSE: ITV), rising £40 million to top £1bn for the 6 months ending June.
This is despite a slide in the proportion of advertising revenue on their television channels. The group is now focussing on diversifying their revenue streams by selling popular content overseas, as well as boosting pay-per-view services.
“There are clear signs of momentum building in the delivery of our five-year Transformation Plan but we know there is still much to be done to rebalance the business as we adapt to the digital future,” said Adam Crozier, ITV plc’s Chief Executive. “We’re encouraged by our progress to date and the prospects for ITV in the medium to long term, although we remain cautious about both the TV advertising market and the economy.”
“Improving our audience share is a key part of our strategy and we had a good start to the year on-screen right across the ITV Family with our share of viewing up 2%. So far this year ITV1 has launched 8 out of the 10 top new dramas, including Vera, Marchlands, Monroe, and Scott & Bailey, while ITV2 and ITV3 are the two most popular - and amongst the fastest growing - digital channels. We also performed strongly online with 64% growth in long form video views across all of our platforms.
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