ITV reported relatively flat revenues for the third quarter as the British commercial broadcaster forecasts strong growth in the U.S. for the remainder of 2019.
Total external revenues slid 2% from the year-ago quarter to £2.2 billion (US$2.8 billion), while ITV Studios revenue rose just 1% to £1.1 billion (US$1.4 billion), largely underpinned by the success of U.S. production arm ITV America with Love Island, Hell’s Kitchen and Snowpiercer.
ITV stated the “phasing of deliveries” in the second half of 2019 will adversely impact the studio’s performance in 2020, though the company projects ITV Studios’ revenue to climb 5%.
“We continue to build our creative pipeline and have a strong slate of new and returning programs in the UK and internationally for both broadcasters and OTT platforms, including The Serpent, Zero Zero Zero, Suburra, Crank Yankers, Queer Eye, Saturday Night Takeaway, and Love Island globally,” Carolyn McCall, ITV chief executive, said in a statement.
The company most recently launched BritBox, the streaming service it co-created with BBC, in the UK.
ITV also struck a distribution and marketing deal with BT and EE and a content partnership with Channel 4.
“ITV’s overall performance for the first nine months of 2019 was as we expected, and although the economic environment continues to be uncertain, we are making good progress in executing our strategy,” McCall added.