Blog Post

ITV Web Income Growing, Offloads Scoot

ITV (LSE: ITV) continues to sell more ads to its growing web video audience – ITV.com income hit £16 million in the January-to-September period, up 45 percent from the year before.

That outstripped growth in audience itself, which has trebled – video views to 150 million and monthly uniques to eight million.

But it’s small fry compared to what ITV could be making if, having lost Kangaroo, it sorts out its syndication strategy, and picks the right partner…

paidContent:UK understands ITV is still favouring a deal with Hulu that would give it equity in the US service. But, along with equity, it’s negotiating for a lead role for its executive in Hulu UK.

ITV.com income is only part of ITV’s online story – total online income rose to £27 million, from £25 million. That shows Friends Reunited is still a major cash-generator. ITV is still trying to sell it to Brightsolid despite a Competition Commission referral.

Much of the ITV.com growth is thanks to Susan Boyle. ITV.com sales had been flat in Q1 but buoyed by Britain’s Got Talent audience in H1, when ITV.com sales grew 100 percent to £10 million.

ITV also confirmed a deal that went under the radar in September – after declaring its intention to sell local online business directory Scoot in March, it has sold to Touch Local.

Top-line sales are up 12 percent to £1.47 billion and ITV is pleased to forecast a Christmas turnaround that will bring flat Q4 sales – October down three percent, November down one percent, but December up four percent.