ITV advertising growth exceeds expectations
Advertising growth at commercial broadcaster ITV has exceeded analyst expectations after the network posted a 14 per cent rise in net revenue for the three months to March.
This increase saw total revenues hit £665m for the period, up from £585m over the same period last year, driven by a 10 per cent uptick in broadcast, online and studio revenue lifting overall revenue by 17 per cent.
Commenting on the figures Adam Crozier, ITV chief executive, said: "We've had a strong start to the year with further growth across all parts of the business.
"In April we completed the acquisition of Talpa Media, the creator of entertainment formats including The Voice, The Voice Kids, Utopia and Dating in the Dark, which marked an important step forward in our strategy of building a world-class production and distribution business."
The good news was tempered somewhat however by a coincident 24 hour strike staged by unions who have rejected a 2 per cent pay offer in light of ITV’s improved financial situation.