Britain's biggest commercial broadcaster was hit by a fall in advertising revenues in a tough ad market, with overall sales down 1% at £2.1 billion ($2.75 billion).
Revenues at ITVStudios were up 9% to £1.1BN and the firm said it will continue to invest in its "creative capability" following investments in Italian drama producer Cattleya and Nick Emmerson's United Kingdom entertainment start-up Koska. This is clear evidence of the benefit of rebalancing the business and generating new revenue streams. "We are now seeing a return to TV advertising from some of the FMCGs and grocers although wider corporate confidence in the United Kingdom continues to be impacted by political and economic uncertainty", he said. Online, Pay & Interactive revenues were up 8 percent with continued double-digit growth in Online & Pay.
ITV's audience figures showed the group's share of viewing for the ITV "family" of channels remained flat at 34.2 million in the nine months.
Investors turned off ITV this morning after the broadcaster revealed that its growing production division had failed to offset declining revenues in the latest quarter. Bazalgette said that "best of British" streaming service Britbox, which is run in conjunction with the BBC and AMC, is performing well and will roll out in other territories.
ITV itself bought Italian producer Cattleya last month in a bid to create more high-quality European dramas.
Next up, ITV will be looking forward to the arrival of new CEO Carolyn McCall, who joins in early 2018 as a replacement for Adam Crozier.
American Heart Association seeks little hat donations
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The Brokerages Set Nike, Inc. (NKE) PT at $62.65
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Even the actor can not be blamed for this as the projects are so interesting that he can not take a risk by saying "no". The second movie will be a continuation of Marthanda Varma where the story will be that of the successor of the king.