ITV expects bumpy ad revenues
CORONATION Street maker ITV has warned its advertising revenues will fall sharply in the second quarter due to a tough comparative with last year when it showed matches from Euro 2012.
The broadcaster, also behind the international hit period drama Downton Abbey said its net advertising revenue was up 6% in the first quarter, ahead of forecasts of 5%, but it is expected to fall after that.
Ad revenues are seen down 12 % in April, down 7% in May and down between 12% and 15% in June. They are expected to be positive in July.
Overall, ITV said it expected its net advertising revenue to be down around 3% in the first half.
Chief executive Adam Crozier said: “As we anticipated, the quarterly pattern of demand from advertisers in 2013 is very different to 2012 although we expect it to even out over the course of the year.
“While we are cautious about the outlook for TV advertising for 2013, our objective remains to outperform the market over the full year.”
Mr Crozier, chief executive ince 2010, has been steadily weaning ITV off its dependence on volatile advertising markets, seeking instead greater revenue streams from television production, online, pay and interactive businesses.
