A 23% revenue boost for its production division helped bolster ITV’s interim results for 2015, while audience share for the British broadcaster’s stable of channels fell by 4%.
For the first six months of this year, total external revenue was up by 11%, to £1,356 million, with ITV Studios’ 23% revenue boost to £496 million year-on-year, a 5% increase in net advertising revenue to £838 million, and a 27% hike in revenue for online, pay and interactive to £85 million being key drivers.
The company said more than half of the revenues coming from the Studios division is brought in from outside the UK. Acquisitions for the U.S. Group have included Leftfield Entertainment, Gurney Productions, Thinkfactory Media and High Noon Entertainment among others, while the acquisition of Dutch format powerhouse Talpa Media was also formalized in the first half of 2015. Recent UK acquisitions have included scripted prodco Mammoth Screen and Twofour Group.
“As well as strengthening our position as the UK’s largest commercial production company, ITV Studios is becoming increasingly international. Reflecting our growth and increasing scale in key production markets in Europe and the US, 53% of ITV Studios total revenue in the first half was generated outside the UK,” the company said in its earning statement.
For a full look at the interim results, click here.