ITV forecasts ad revenue decline in second quarter

 
Suzie Neuwirth

BRITISH media company ITV today unveiled a two per cent increase in total revenue for the first quarter of 2013, but warned that earnings from advertising would fall in the second quarter.

The integrated broadcaster and producer reported advertising revenues of £382m in the first quarter, up six per cent year-on-year. However, the company said that they were down 12 per cent in April, are expected to fall seven per cent in May and down 12 to 15 per cent in June.

“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,” said chief executive Adam Crozier.

“While we are cautious about the outlook for TV advertising for 2013, our objective remains to outperform the market over the full year.”