ITV has reported a 1 per cent fall in TV ad revenues in the first quarter but expects to see a bounceback in the second quarter with May up 6 per cent and June up between 12 per cent and 17 per cent.
This means that ITV’s second quarter TV ad revenues will be up 7 per cent, helping to lift revenue across the first half to about 3 per cent up over the same period last year, as the broadcaster’s “summer of love” with advertisers kicks in.
The commercial broadcaster also produced a set of bumper figures for ITV Studios which increased total revenues by 61 per cent to £212 million in the first quarter, thanks to the “front-loaded delivery” of a number of programmes such as Titanic.
ITV said its production division has performed well internationally, particularly the US, with external revenues up 95 per cent to £125 million in the first quarter.
ITV said that broadcasting and online revenues grew by 1 per cent in the first quarter to £440 million. Within this online revenues appear to have grown by £7 million, almost 10 per cent, to £78 million in the first quarter.
ITV said that viewing of TV shows online and through on-demand platforms grew by 24 per cent year-on-year in the first quarter to 110 million.