Business

ITV production arms boosts overall revenue

Joey Essex
Image caption I'm a Celebrity is one of ITV's most popular programmes

Broadcaster ITV has seen revenues rise across its channels helped by a strong performance from its production arm.

Total revenue rose 6% to £1.6bn in the nine months to the end of September, with advertising revenue up 1% beating its forecast for flat revenue made in July.

"We continue to make good progress," said ITV boss Adam Crozier.

Revenues at ITV's studios arm, which makes programmes such as Mr Selfridge and Marple, rose 11% in the period.

ITV said it expected advertising revenues across all its channels to rise 2% for the full year, thanks to a strong programming for the final three months of the year.

Advertising revenues from its fifth series of Downton Abbey and its latest I'm a Celebrity series will be included in its fourth quarter results.

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Media captionTim Westcott, Senior Media Analyst at IHS: "They've increased profits very healthily"

Advertising revenue rose 8% in October and ITV said it expects it to rise 4% in November and by 1% in December.

Mr Crozier's plan is to achieve an equal split between advertising and production revenues to help protect it from the volatility of the advertising market.

As part of this strategy, ITV has made several acquisitions this year, buying the US production firms Thinkfactory Media and High Noon and the UK producer The Garden, maker of Channel 4 shows including 24 Hours in A&E and The Audience.

"ITV is now a stronger and more balanced business and as we move into 2014 we will continue to see growth across the company," said Mr Crozier.

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