ITV Projects Ad Growth

LONDON: ITV is forecasting a stabilization of the British TV advertising market, projecting a 4-percent increase in its net advertising revenues for December.

For the nine months ended September 30, the British broadcasting group reported revenues of £1.3 billion, down from the year-ago period’s £1.5 billion. Broadcasting revenues are down 12 percent to £1.05 billion, while ITV online revenues gained 8 percent to £27 million. ITV Studios reported external revenues of £229 million, an 11-percent gain. Total ITV Studios revenues stood at £405 million.

Issuing its outlook, ITV says net advertising revenues will be flat in Q4, with a 3-percent decrease last month and a 1-percent decrease this month to be followed by a 4-percent increase in December. For 2009, ITV sees net ad revenues being down 12 percent.

John Cresswell, ITV’s COO, said: “ITV is continuing to deliver a strong operational performance in challenging market conditions. All our channels are performing strongly on-screen and ITV1 is extending its lead over BBC1 in peak time viewing. Both ITV Studios and itv.com are delivering revenue growth. We are meeting our cost savings targets and continue to strengthen our balance sheet. Whilst our visibility is limited, the outlook for the fourth quarter has continued to improve and ITV is continuing to outperform the market. With further cost savings and a strong schedule in 2010, including the World Cup, we are confident that ITV is well-positioned to benefit from any market recovery.”