Home Business News ITV profits rise, to launch a ‘streaming service’

ITV profits rise, to launch a ‘streaming service’

by Purvai Dua
25th Jul 18 10:39 am

Britain’s biggest free-to-air commercial broadcaster, ITV, has recorded a ‘fantastic’ first-half performance, with the World Cup and Love Island helping revenue rise 8 per cent to £1.59bn.

The company reported that profits rose to £265m in the six months to the end of June, up from £259m in the previous half-year.

This is not all. There are reports that ITV is in discussions with the BBC and Channel 4 to take on Netflix and Amazon Prime. Speaking to media today, Chief Executive Carolyn McCall revealed that the broadcaster was in talks to launch a streaming business, but did not clarify whether ITV was partnering with any other companies on the new service.

She added: “…ITV will be more than TV – it will be a structurally sound integrated producer broadcaster where we aim to maintain total viewing and increase total advertising revenue; it will be a growing and profitable content business, which drives returns; and it will create value by developing and nurturing strong direct consumer relationships, where people want to spend money on a range of content and experiences with a really trusted brand.”

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