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techkenyot.com January 21, 2018


Decline in ITV ad revenue slows in third quarter

14 November 2017, 08:19 | Elsie Buchanan

Decline in ITV ad revenue slows in third quarter

Decline in ITV ad revenue slows in third quarter

In Q3, advertising sales were down 4 per cent. Total revenues are down 1 per cent so far this year.

ITV Executive Chairman Peter Bazalgette said: "ITV Studios delivered a strong performance with good underlying growth across all parts of the business and particularly strong growth in ITV America".

He added: "We've seen improving trends in all our key revenue lines in the quarter and we're on track to deliver on the commitments we set out at the start of the year".

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Britain's biggest commercial broadcaster was hit by a fall in advertising revenues in a tough ad market, with overall sales down 1% at £2.1 billion ($2.75 billion).

Revenues at ITV Studios were up 9% to £1.1BN and the firm said it will continue to invest in its "creative capability" following investments in Italian drama producer Cattleya and Nick Emmerson's United Kingdom entertainment start-up Koska. This is clear evidence of the benefit of rebalancing the business and generating new revenue streams. "We are now seeing a return to TV advertising from some of the FMCGs and grocers although wider corporate confidence in the United Kingdom continues to be impacted by political and economic uncertainty", he said. Online, Pay & Interactive revenues were up 8 percent with continued double-digit growth in Online & Pay.

ITV's audience figures showed the group's share of viewing for the ITV "family" of channels remained flat at 34.2 million in the nine months.

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Investors turned off ITV this morning after the broadcaster revealed that its growing production division had failed to offset declining revenues in the latest quarter. Bazalgette said that "best of British" streaming service Britbox, which is run in conjunction with the BBC and AMC, is performing well and will roll out in other territories.

ITV itself bought Italian producer Cattleya last month in a bid to create more high-quality European dramas.

Next up, ITV will be looking forward to the arrival of new CEO Carolyn McCall, who joins in early 2018 as a replacement for Adam Crozier.

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