A BUMPER June for advertising and stronger demand for ITV’s own-made shows signalled a further boost to the broadcaster’s turnaround strategy.
The impact of the Euro 2012 football championships means advertising revenues for next month are likely to be up by as much as 17% – building on an expected 6% rise this month as ITV airs Britain’s Got Talent.
ITV said in a trading update that advertising revenues should outstrip the rest of the market this year, but added that its ITV Studios business was also pulling its weight after a period of under-performance.
The division has secured an “encouraging number” of commissions, particularly in the USA, as revenues rose by 61% to £212m in the first quarter of this year.
Chief executive Adam Crozier said the company continued to make progress with its five-year transformation plan. A key part of the strategy involves reducing ITV’s exposure to TV advertising revenues, which are volatile and suffer when the economy worsens.