Nov 7, 2018
ITV blames economic uncertainty for flat ad sales
ITV said it expected advertising revenues to be broadly flat in the year amid "Economic uncertainty" and as the British commercial broadcaster grapples with competition from streaming services such as Netflix and Amazon. The network, home to shows such as I'm A Celebrity and Dancing On Ice, said total advertising revenue grew by 2 per cent year-on-year in the nine months to the end of September. Chief executive Carolyn McCall said she expected total advertising to be down by 3 per cent in the fourth quarter and "Broadly flat" over the full year because of "Softening" in fourth-quarter net advertising revenues due to "The increasingly uncertain economic environment." External revenues in the nine months to end September grew by 6 per cent on the year to £2.26bn, driven by a 10 per cent rise in revenues at ITV Studios, the broadcaster's content business. Organic revenue growth at ITV Studios clocked in at 7 per cent.
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