ITV reports ‘positive’ ad revenue figures

ITV says its ambitious “turnaround” plan is on track and that advertising revenue has stabilised across its channels. The commercial broadcaster’s positive outlook was issued in a trading update to the City.

ITV says net advertising revenue (NAR) will be down 4.4% at its flagship channel ITV1 for the year ending December 31, compared to a 12.4% drop the previous year.

It adds that NAR was up 2% year-on-year in November for ITV1 and that it can “see no evidence of advertiser demand weakening”.

Advertising revenue across the broadcaster’s channel portfolio is up 32% to £209m. It estimates the UK TV advertising market to be up 6% across the second half of 2007 and up 3% over the year.

Michael Grade (pictured), executive chairman of ITV, also says that its viewing performance has improved.

He says: “ITV has made measurable progress during the course of 2007. On screen ITV1’s performance has been much improved; we have assembled a formidable senior management team; and we’ve seen real growth in the whole television advertising market over the second half of the year.”

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