ITV's digital channels lift NAR by 36%
ITV has posted a net profit of £84m for the first six months of 2007, down from a year-ago profit of £121m. Group revenues fell nearly 7% to £1.004bn as the commercial broadcaster suffered a 9% year-on-year drop in ITV1's net advertising revenues (NAR) to £595m. ITV's family of digital channels increased NAR by 36% to £95m, though group NAR fell by 5% to £717m. Phone-in quiz revenues fell by £21m.
ITV executive chairman Michael Grade said the third quarter of 2007 was likely to see a 1% increase in ITV1's NAR, and 4% increase in group NAR. "I'm very pleased with progress in ITV1's schedule performance and the outlook for revenue in Q3 is encouraging," said Grade in a statement to the City.
"Our family of digital channels continues to grow, increasing revenue and viewers, and the launch of ITV.com has opened a valuable opportunity for us to compete effectively for online revenues for the first time."
Grade said ITV's top team had been carrying out a detailed business review, and Grade would publish its conclusions on September 12. "As I have previously said, there is no single action that will fix our business, and our plans are being formed to deliver more consistently for our viewers, our customers and our shareholders."
Grade said the focus had been on the continued revitalisation of ITV1, and the accelerated growth of its digital channels. "ITV2, ITV3 and ITV4 all rank in the top 10 commercial digital channels in Freeview homes, with ITV2 and ITV3 taking first and second positions respectively. We are working to ensure that they continue to grow," said Grade.
ITV this week completed the revamp of its broadband-enabled portal, ITV.com, featuring simulcast channels, a 30-day catch-up TV service plus access to programmes in ITV's vast archive.
Regards Satdude. :thum:
ITV has posted a net profit of £84m for the first six months of 2007, down from a year-ago profit of £121m. Group revenues fell nearly 7% to £1.004bn as the commercial broadcaster suffered a 9% year-on-year drop in ITV1's net advertising revenues (NAR) to £595m. ITV's family of digital channels increased NAR by 36% to £95m, though group NAR fell by 5% to £717m. Phone-in quiz revenues fell by £21m.
ITV executive chairman Michael Grade said the third quarter of 2007 was likely to see a 1% increase in ITV1's NAR, and 4% increase in group NAR. "I'm very pleased with progress in ITV1's schedule performance and the outlook for revenue in Q3 is encouraging," said Grade in a statement to the City.
"Our family of digital channels continues to grow, increasing revenue and viewers, and the launch of ITV.com has opened a valuable opportunity for us to compete effectively for online revenues for the first time."
Grade said ITV's top team had been carrying out a detailed business review, and Grade would publish its conclusions on September 12. "As I have previously said, there is no single action that will fix our business, and our plans are being formed to deliver more consistently for our viewers, our customers and our shareholders."
Grade said the focus had been on the continued revitalisation of ITV1, and the accelerated growth of its digital channels. "ITV2, ITV3 and ITV4 all rank in the top 10 commercial digital channels in Freeview homes, with ITV2 and ITV3 taking first and second positions respectively. We are working to ensure that they continue to grow," said Grade.
ITV this week completed the revamp of its broadband-enabled portal, ITV.com, featuring simulcast channels, a 30-day catch-up TV service plus access to programmes in ITV's vast archive.
Regards Satdude. :thum: