ITV sees ads strengthening
November 5, 2009
Signs of an improvement in Britain's television advertising market emerged after ITV forecast that it would end the year with the best rate of advertising growth since 2007, and reported the early repayment of £75 million (E83.5m) in debt.
The group said there had been an unexpected improvement in advertising since it last updated the market in October. "Last month we were looking at October NAR [net advertising revenue] down 3 per cent, with November in a similar place," said John Cresswell, chief operating officer of ITV.
"We now expect ITV NAR to be flat across the fourth quarter. In November, we're now looking at revenues being down around 1 per cent, and for December we expect revenues to be up by 4 per cent.