Broadcast News

Bookmark and Share


GRANADA’S profits have dropped sharply due to a slump in advertising revenues.
The company’s profits before taxes during the year to September fell by 27 per cent to £236 million, while losses at ITV Digital soared by 26 per cent to £234 million.
Steve Morrison, Chief Executive, said: “In the current global advertising downturn our advertising revenue was down 12 per cent this year. We are focusing on our core business and have taken a number of steps to reduce our costs and further increase our efficiency. Our Content division, which is amongst the largest programme producers in Europe, grew revenue by five per cent, partly offsetting the decline in advertising income, and sales of UK productions outside ITV grew by 17 per cent.”
ITV Digital has cost investors £800 million, and Granada contributed £394 million of this, with broadcasters Carlton providing the remainder. The digital service has attracted approximately one million subscribers, but needs another 700,000 to break even.
Charles Allen, Executive Chairman, said: “The Global Media market has been tough, but we’ve made significant progress in the business. We have integrated Meridian and Anglia into our content and Broadcasting Enterprises divisions and all out ITV licences have been renewed for ten years. ITV Digital and ITV Sport are the key priority. ITV Digital have implemented a plan that will reduces costs and improve performance by £145 million in 2002 and in ITV Sport we are focused on extending carriage. In addition, we are exploring a range of options that will improve shareholder value by reducing the cash burn and improving the break-even point. Looking forward, we welcome this week’s confirmation that the Government will lift the statutory hurdles to full ITV consolidation and believe this offers the prospect of more efficient and effective ITV which will benefit viewers and advertisers.” (CD)
Solidmate Ltd Memory Card Hire London

Top Related Stories
Click here for the latest broadcast news stories.

Source Digital For Debut Of IBC's Startup Forum 2017
Leading technology and service provider specializing in monetization strategies around digital content, Source Digital, has been selected to participa
RTS Announces Nominations For North West Awards 2017
The Royal Television Society (RTS) North West Centre has announced the nominations for its annual awards, at an event sponsored by Audio Network. Cat
CBS News Renews Licensing Agreement With Wazee Digital
CBS News and Wazee Digital have announced the renewal of their long-standing agreement in which Wazee Digital will continue to manage and represent CB
Transvideo & Aaton Digital Announce New Products For NAB 2017
Transvideo and Aaton Digital have announced that they will both show new products for the cinematography and broadcast industries at NAB 2017. Transvi
Robert Shen Joins Axon Digital Design
Robert Shen has joined Axon Digital Design as Business Development Manager South East Asia. Mr Shen joins the company from Imagine Communications wher
ITV ARE to form a new division, ITV Interactive, as the unified home for all online and interactive activities and the portal operations of ITV Active
RTS North West Announce Awards Shortlist
The Royal Television Society (RTS) North West Centre has announced the shortlist for its annual awards at an event hosted by CBBC presenter Lauren Lay
NOA's Tobias Rapp To Present Digital De-Emphasis Paper At AES
NOA Archives' Tobias Rapp is to present a paper on digital de-emphasis at the 2018 AES International Conference on Audio Archiving, Preservation and R
Carousel Digital Signage To Demonstrate New 7.3 Software At InfoComm
Carousel Digital Signage is to demonstrate its new 7.3 software release for enterprise-class digital signage at InfoComm 2018. The demonstration will
Football bosses reject ITV Digital's £50 million offer
The future of ITV Digital looked less than assured last night after the Football League rejected the troubled broadcaster's downgraded £50 million for
SMG settles differences with ITV over digital rights
Following the recent sale of The Scottish Media Group's (SMG) 25% GMTV stake held to ITV plc, the two companies have reached an agreement on the use o
Prebble quits as ITV chief
The chief executive of ITV, Stuart Prebble, has resigned. Prebble had been under pressure to quit because of the spectacular implosion of ITV Digital.
ITV Digital sales to proceed as licence put to tender
The UK TV regulator, the Independent Television Commission (ITC), has ruled that it has not been able to secure additional funding for ITV Digital on
FROM JULY 11, ITV Digital is the new name for ONdigital. ITV Digital is ITV’s pay television platform, leveraging the strength of the ITV brand, and b
ITV Play launches on Freeview
ITV has today launched its newest digital channel on Freeview – ITV Play – with big name programmes lined up for the coming weeks. The ITV Play channe