Decline in ITV ad revenue slows in third quarter

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Decline in ITV ad revenue slows in third quarter

In the nine months to the end of September, total external revenue was down 1% to £2.1bn.

Vodafone sees a return to ad revenue growth in the fourth quarter but a 5% decrease for the full year.

While broadcast and online revenues sank four per cent to £1.45bn, online, pay and interactive revenues jumped eight per cent, while ITV studios revenue was up nine per cent at just over £1bn.

While political uncertainty continues to dent corporate confidence in the United Kingdom and negatively impacts ad spending, ITV said it was seeing a return to advertising from some consumer goods firms and grocers.

Revenues at ITV Studios were up 9% to £1.1BN and the firm said it will continue to invest in its "creative capability" following investments in Italian drama producer Cattleya and Nick Emmerson's United Kingdom entertainment start-up Koska.

ITV has said it is confident that ITV Studios will for all of 2017 "deliver good organic revenue growth with adjusted EBITA broadly in line with previous year, impacted by ongoing investment in drama and the timing of program deliveries".

ITV Studios is expected to report "good organic revenue growth with profit broadly in line with last year" for the year while online and pay will "deliver good revenue growth".

British commercial broadcaster ITV heralded "strong growth" at its ITV America production business and U.S streaming service Britbox after posting third quarter financial results in line with market expectations.

Sir Peter Bazalgette, ITV's chairman who is running the group until new chief executive Carolyn McCall arrives in January, said: "ITV's performance in the first nine months of 2017 is very much as we anticipated. This, along with our investment in Tetra in France and our existing European drama businesses, will enable us to benefit from the increasing demand for locally produced content with global appeal", he said. It said that it had a healthy pipeline of new and returning programmes for 2018. Longtime CEO Adam Crozier earlier this year had announced he was stepping down June 30.

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