Rachel_Sandford
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In August of last year, ITV announced that it would be launching a micropayment system for ITV player in the fourth quarter of this year. Now, UK's largest free-to-air commercial broadcaster just announced that the launch of this payment system is being pushed back to January of next year.
“Our pay mechanism will launch at the turn of the year, we have picked our partners,” said Adam Crozier, ITV chief executive. “We are working on the consumer proposition, what people are prepared to pay for and what will work and won't work.”
According to Crozier, ITV is already experimenting with different online viewing models with some “register-to-view trials” for shows like The Only Way is Essex, webisodes of Coronation Street, and Champions League matches. The company also announced that they would be running several payment models in the first few months of next year. “We originally said there was a possibility of doing it then [in the fourth quarter]. From a technical point of view we could do it but we want the consumer proposition right. We want a softer launch,” said Crozier.
In May, ITV reported that it has experienced a bit of a slump in terms of TV ad revenues. It predicted that their ad revenues would be down by 2% in July and 4% in August. It now reports that they may see the end to this advertising slump in September, but that TV ad revenues would be “broadly flat” year on year, and that overall TV ad revenues across the third quarter would be “slightly down” year on year, but ahead of the market.
The company's total revenues are up, however, by 4% year on year to £1.03bn, following their five-year transformation plan. Their broadcasting and online division also increased revenues by 3% to £887m. Within that 3% increase, online revenues increased by 33% year on year, and ITV Player enjoyed a 19% increase in average monthly unique users and “long-form video views,” rising 64% to £180m.
“We're encourage by our progress to date and the prospects for ITV in the medium and long term,” said Crozier. “Although we remain cautious about both the TV advertising market and the economy.”
ITV Studios, their in-house production arm is also doing quite well, increasing its total revenues by 4% year on year to £264m. Their international production operation also helped boost ITV Studios' “external revenues.” Crozier said “While there is still a long way to go, we're starting to see potential in the level of new work coming through ITV studios with 68 new commissions so far this year, of which 29 are international.”
Analysts at UBS described the performance of ITV Studios as “stronger than expected,” while Investec said the figures were “mostly as expected but still cautious.”
Crozier confirmed that the company would not be making any major acquisitions, rather it would be spending its resources so as to “organically fix ITV Studios.” He also said that the company plans to reduce their dependence on volatile advertising markets by reinvesting in programming to sell both internationally and online, and by increasing pay-TV services.
“Our pay mechanism will launch at the turn of the year, we have picked our partners,” said Adam Crozier, ITV chief executive. “We are working on the consumer proposition, what people are prepared to pay for and what will work and won't work.”
According to Crozier, ITV is already experimenting with different online viewing models with some “register-to-view trials” for shows like The Only Way is Essex, webisodes of Coronation Street, and Champions League matches. The company also announced that they would be running several payment models in the first few months of next year. “We originally said there was a possibility of doing it then [in the fourth quarter]. From a technical point of view we could do it but we want the consumer proposition right. We want a softer launch,” said Crozier.
In May, ITV reported that it has experienced a bit of a slump in terms of TV ad revenues. It predicted that their ad revenues would be down by 2% in July and 4% in August. It now reports that they may see the end to this advertising slump in September, but that TV ad revenues would be “broadly flat” year on year, and that overall TV ad revenues across the third quarter would be “slightly down” year on year, but ahead of the market.
The company's total revenues are up, however, by 4% year on year to £1.03bn, following their five-year transformation plan. Their broadcasting and online division also increased revenues by 3% to £887m. Within that 3% increase, online revenues increased by 33% year on year, and ITV Player enjoyed a 19% increase in average monthly unique users and “long-form video views,” rising 64% to £180m.
“We're encourage by our progress to date and the prospects for ITV in the medium and long term,” said Crozier. “Although we remain cautious about both the TV advertising market and the economy.”
ITV Studios, their in-house production arm is also doing quite well, increasing its total revenues by 4% year on year to £264m. Their international production operation also helped boost ITV Studios' “external revenues.” Crozier said “While there is still a long way to go, we're starting to see potential in the level of new work coming through ITV studios with 68 new commissions so far this year, of which 29 are international.”
Analysts at UBS described the performance of ITV Studios as “stronger than expected,” while Investec said the figures were “mostly as expected but still cautious.”
Crozier confirmed that the company would not be making any major acquisitions, rather it would be spending its resources so as to “organically fix ITV Studios.” He also said that the company plans to reduce their dependence on volatile advertising markets by reinvesting in programming to sell both internationally and online, and by increasing pay-TV services.
