Ad spend heads upwards at ITV - Warc News

News: November 6, 2009

LONDON: ITV has reported a resurgence in advertising spending, led by food retailers, cosmetics brands and telecoms.

The results mark the best rate of ad growth at the firm since 2007.

ITV now believes that total revenue will be up by four per cent in December; the first increase in monthly NAR (net advertising revenue) since the first half of 2008.

The company expects NAR to be flat across the fourth quarter as a whole but no longer forecasts a decline.

Shares in the company rose by 3.9% on the news that ad revenue had stabilised, adding weight to the view that the worst of the slump may now be over.

The share of peak-time viewing recorded by the ITV channels remains stable at 27.6%.

Chief operating officer John Cresswell described the result as "the strongest monthly year-on-year performance since the back end of 2007" and said he looked forward to a strong schedule, including the World Cup, in 2010.

While ratings for the X-Factor, TV Burp and Doc Martin made for happy reading at ITV, the search for a successor to outgoing chairman and former chief executive Michael Grade continues to cast a shadow.

Mr Cresswell said he was unable to comment on the continuing succession problem.

Data sourced from BBC News; additional content by WARC staff, 06 November 2009

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