UK broadcasting company ITV posted its half year results on Tuesday, revealing encouraging growth of 19% to GBP56m for its online, pay and interactive revenues, which includes the ITV Player catch-up TV service.
ITV’s first-half TV ad revenues were reportedly down 3%, however the company expects to achieve a 12% rise in July and a 20% increase in August.
Total revenues for the six months ending 30 June 2013 were GBP1,309 as compared to GBP1,279 for the same period in 2012.
Adam Crozier, ITV’s chief executive stated: “As we anticipated, the shape of the television advertising market this year is very different to 2012. In spite of monthly volatility we expect ITV Family NAR to be broadly flat for the nine months to the end of September with Q3 up 9%. We expect both ITV Studios and Online, Pay & Interactive to deliver double digit revenue growth for the year as a whole as we continue to rebalance and strengthen ITV.”
The company also declared non-advertising revenues of GBP568m, an increase of 11%, which was said to be driven by significant growth in Online, Pay & Interactive and in ITV Studios.
Crozier added: “We’re making good progress with our strategy of growing and rebalancing the business as we build new revenue streams and improve margins.”
The company’s board has approved an interim dividend of GBP0.011, increased by 38%.
Following acquisitions, dividends and further debt repayments, ITV said it has a net debt of GBP52m.