ITV advertising revenues fall

Source: Exec Digital UK

Date :08/08/2007 09:03:10

Broadcaster ITV has reported a 5 percent fall in half-year advertising revenues, but insisted that the television advertising market in the UK is recovering.

Reporting its results for the six months to 30 June, the firm's net advertising revenues fell to £717 million from £752 million for the same period last year.

The decline contributed to a fall in pre-tax profit, down 39 percent to £105 million from £173 million a year earlier.

ITV, the UK’s largest free-to-air commercial broadcaster, said it expected advertising revenues to rise for 2007 as a whole.

ITV now expects the overall UK television advertising market to increase 6 percent between July and September from the previous year, and be up for the first nine months of 2007 as a whole.

ITV chairman Michael Grade said the firm was continuing its work to revitalise its main ITV1 channel.

"We have seen some encouraging early signs of recovery as ITV1's performance begins to stabilise in the first six months of 2007," he said.

"Ratings decline has slowed and the advertising environment continues to improve, as the UK television advertising market in the first half was essentially flat and is growing in the third quarter."

August 8 2007