ITV Revenues Up 6 Percent

LONDON: At ITV plc in the U.K., group revenues were up by 6 percent in the first quarter to £450 million, including an 8-percent rise in TV advertising revenues.

Broadcasting and online revenues were up by 6 percent to £390 million. At ITV Studios, external revenues rose 7 percent to £60 million but internal production revenues fell slightly to £73 million. Television advertising revenues increased by 8 percent in the quarter—after a year-ago decline of 15 percent—and the group forecasts a 22-percent increase in the second quarter.

New CEO Adam Crozier commented: “ITV’s financial performance over the first quarter reflects growth in U.K. television advertising following last year’s record declines. Over two years, revenues are still tracking below 2008 levels. 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. Given also the long-term challenges facing the free-to-air market, change remains an imperative at ITV and we are focused on driving the transformation of the business over the next 3-5 years.”