ITV lifted by ad revenues
May 10, 2010
ITV has reported an 8 per cent year-on-year increase in TV ad revenue in the first three months, and is predicting a World Cup-fuelled 22 per cent surge in the second quarter, but has warned that the outlook in the second half remains “highly uncertain”.
ITV chief executive Adam Crozier, giving his first management update since joining, said that the outlook for the “latter part of 2010 and early 2011 is tough with more testing year-on-year comparators and uncertain market conditions post-election”.
The broadcaster also pledged “incremental investment” in programming and its digital operation in the second half of the year to try to “provide a stronger platform going into 2011”. It is understood that the cash boost will benefit ITV2 and daytime television and is considered a small “tactical reinvestment” given the buoyancy seen in the markets so far this year.
ITV has reported total group revenues up 6 per cent year-on-year to £450 million in the first quarter. Broadcasting and online revenues also rose 6 per cent year-on-year to £390 million.