Ad Rebound Boosts ITV Revenues

LONDON: ITV plc group revenues rose 11 percent to £1.46 billion in the first nine months of the year, driven by a recovery in ad revenues.

In the third quarter alone, ITV TV ad revenues rose 16 percent, with a 10-percent rise forecast for the fourth quarter. While ad revenues were up, ITV Studios’ external revenues fell 10 percent to £205 million.

Adam Crozier, CEO of ITV, commented, “The television advertising market has continued to recover strongly. However this does not disguise the significant challenges ITV faces and we remain focused on delivering the five-year Transformation Plan. We are forging ahead with implementing our first phase priorities; we have launched HD versions of ITV2, ITV3 and ITV4 on the Sky platform, we have agreed a new three-year deal for both The X Factor and Britain’s Got Talent and we have completed the sale of Screenvision. The economic outlook for 2011 is uncertain and we continue to plan on a cautious basis.”