ITV Forecasts 2014 Ad Gains

LONDON: Releasing its interim management statement today, ITV plc said it expects its second-quarter ad revenues to rise 12 to 13 percent, following modest gains in Q1.

Total revenues at the U.K.'s leading commercial broadcaster rose 2 percent in the first quarter to £585 million ($981 million), with ad revenues also gaining 2 percent to £390 million ($654 million).

Overall broadcast and online revenues gained 3 percent to £480 million ($805 million). The company is forecasting strong gains in ad revenues and viewing share in Q2 driven by the World Cup and the launch of its its pay-TV channel ITV Encore.

ITV Studios' revenues fell by 4 percent to £192 million ($322 million). "As always, Studios' revenues are impacted by phasing of program deliveries," said Adam Crozier, ITV plc's chief executive. "However, given the level of forward visibility we have in our Studios business, we are confident of delivering good revenue growth over the full year driven by the acquisitions we have made. Just last week we made the significant acquisition of Leftfield Entertainment, a fast growing U.S. production company. The acquisition makes ITV Studios the largest independent unscripted producer in the U.S. and is a major step forward in our strategy of building an international content business. We are also investing in the organic growth of our international scripted business, which will benefit our growth in future years."