ITV positive after 11% Q1 revenue boost to £500m

ITV is expecting to outperform the TV advertising market over the second half of the year, despite admitting ad revenues are likely to be down in May and June.

ITV: first quarter results released
ITV: first quarter results released

Revealing its first quarter performance today (11 May), the broadcaster claimed TV advertising revenues were up 12%, helping overall revenues to climb 11% to £500m.

April ad revenues were up 6%, but declines are expected for May and June due to the difficulty of matching the spend that last year's World Cup attracted.

The company's first half forecast is for ad revenue growth of just 1% to 2%, indicating it is expecting fairly severe declines in May and June.

Some media agencies suggested earlier this week ITV's June performance could be down 10%.

However, chief executive Adam Crozier said the company expected to outperform the market across the whole of the year, while remaining cautious about the economic outlook.

Crozier revealed that the online TV offering ITV Player would be made available on a wide range of mobiles and tablets, starting with Android smartphones "within the next few weeks", and hitting the iPhone in the third quarter.

The company did not break out its online performance for the quarter.

Its broadcasting and online division grew revenues by 12% to £436m, while its ITV Studios production business grew 7% to £64m.

Crozier also trumpeted the broadcaster's ratings recovery. ITV1's share of viewing in the year to 30 April rose from 15.7% in 2010, to 16.1% this year, although its share of commercial impacts (SOCI) dropped from 27.2% to 27.1%.

The ITV family share of viewing was up from 22.4% to 22.3%, and its SOCI increased from 39.6% to 40.3%.

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