ITV: Revenue up 13% in first quarter of 2012
ITV has reported a 13 per cent increase in revenue for the first three months of 2012.
The UK’s biggest free commercial broadcaster said it expects to outperform the TV ad market as a whole this year, with Euro 2012 coverage set to boost advertising revenue over the summer.
ITV Studios has performed strongly both in the UK and internationally this year to date – particularly in the US – with a number of new commissions.
Revenues from ITV Studios climbed 61 per cent to £212 million in the first quarter, reflecting the front loaded delivery of a number of shows.
National advertising revenues (NAR) for ITV Family were down one per cent, but this was in line with the market, the media group said.
External revenues rose 13 per cent to £565 million, compared with £500 million for the same period the previous year, driven by non-national advertising revenues.
Adam Crozier, ITV’s chief executive, said the group was continuing to push forward with its five year transformation plan.
“Share of viewing for ITV Family was down by two per cent in the four months to the end of April, however we remain confident in our schedule with Euro 2012 in June and a strong autumn line-up,” he said.
“While the underlying television advertising market continues to be broadly flat, we expect ITV’s ad revenue to be up around three per cent in H1.”
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