ITV fears 
for advert break after good start

Broadcast and online revenues were six per cent higher in the first quarter of the year at £465m, driven by six per cent growth in net advertising revenues and a 17 per cent rise online. However, the broadcaster said it remained cautious about the outlook for this year, with advertising figures likely to be distorted by major events of last year, such as Euro 2012 and the Olympics.

Net advertising revenues fell 12 per cent last month and are expected to be down by seven per cent this month and by between 12 per cent and 15 per cent in June before picking up in July.

Mr Crozier said: “While we are cautious about the outlook for TV advertising for 2013, our objective remains to outperform the market over the full year.”

ITV Studios, which has seen a recovery in fortunes due to programme successes such as Vera and Titanic, is also expected to achieve double-digit revenues growth this year, although the delivery of shows for last year meant the first quarter figure was five per cent lower at £201m.

Now more than half way through a five-year turnaround plan, Mr Crozier believes ITV is becoming a “stronger and more balanced business”, with more than £1bn in non-advertising revenues last year.

He said, looking at the whole year, good growth across all parts of the business is expected.