The UK’s biggest commercial broadcaster grew ad revenue by 8% between January and March. That compares with a 15% drop over the same three months in 2009. ITV says the market outlook for the second half of 2010 is highly uncertain though, given the UK’s rocky economic outlook. Today’s confused result in the General Election will only panic the City, which hates uncertainty. And promises more political instability over months to come.
Group revenues rose by 6% to £450 million, compared with £425 million a year ago. Broadcasting and online revenues also rose by 6% to £390 million (£368 million in 2009). The money that production arm ITV Studios makes from supplying programmes to the broadcaster was flat at £73 million. But ITV Studios increased its overseas revenues by 7% to £60 million.