ITV Ad Revenues Down

06 November 2008

LONDON: ITV, the UK's largest commercial broadcaster, saw its advertising revenue fall by 2.5% to £1.04 billion ($1.65; €1.28bn) in the first three quarters of this year, and expects Q4 to bring a 9% downturn as the financial crisis hits marketing budgets. 

Total revenues in the January-September period were down by 1% year-on-year to £1.47bn, with broadcast revenues also dropping by some 5% in all.

ITV's global content arm, however, posted an income uplift of 25% to £206 million, with online revenues also rising by 6% to £25m, as the number of videos viewed on rose by 472% to 82m.

The number of "unique users" of its website grew by 23%, but ITV predicts that full-year online revenue will be "impacted" by the advertising slowdown.

But the company also suggests that its Q4 TV ad revenues could better those for the industry as a whole, for which adspend is predicted to fall 9.4%.
ITV expects to retain a 43.8% share of television ad revenues for the year as a whole, the first time for two decades its share has held steady. 

Executive chairman Michael Grade says: "In tough economic conditions, operationally we continue to perform strongly and we expect to hold our share of UK television advertising year-on-year for the first time in over 25 years."

Data sourced from Media Guardian (UK); additional content by WARC staff