ITV set to deliver first pay channel in June
Broadcaster ITV has seen its total external revenues climb two per cent to £585m for the three months ended 31 March, with ITV Studios on course to deliver good revenue growth over the full year.
The broadcaster said it was on track to launch ITV Encore in June, which will be followed by its new free to air channel ITVBe.
Broadcast and online revenues received a boost of three per cent to £480m driven by an expansion in online, pay & interactive of 14 per cent. ITV announced it still on track to deliver £10m of cost savings by the end of the year.
The acquisition of 80 per cent of the US independent producer was completed but ITV said it would continue to build on its international content business.
However, ITV was impacted by the phasing of programme delivery. The company expects to see boost from major events later in the year.
"While ITV Family share of viewing has been lower than expected so far this year we have confidence in our strong schedule to come, including the Football World Cup in June", said ITV chief executive Adam Crozier.