14th May 2015 06:54
(Correcting ITV Family net advertising revenue forecast for months May and June.)
LONDON (Alliance News) - ITV PLC Thursday reiterated expectations for further strong growth across the business for 2015, and guided for a 5% rise in net advertising revenue for its first half, as it posted a rise in revenue for its first quarter.
ITV Family net advertising revenue rose 12% in the first quarter to end-March, ahead of the 11% that company had previously guided at the time of its full year results.
ITV Family net advertising revenue was up 5% in April, but is forecast to be down 5% in May and down by between 5% and 7% in June, as in the previous year results were boosted by the World Cup. As a result, ITV is guiding for 5% growth for its first half.
ITV Family's share of viewing fell three percentage points in the first four months to 20.9%, ITV said, and improving this remains a key focus for the full year. However, its digital channels saw improving audience share, up three percentage points in the period compared to the previous year, and ITV said it is focused on its main channel, where it expects a boost in the second half from the Rugby World Cup.
Total external revenue rose 14% to GBP665 million in the first quarter, up from GBP585 million a year before. Broadcast and Online revenue rose to GBP530 million from GBP480 million, boosted by strong growth in net advertising revenue and further growth in its Online, Pay & Interactive business.
The company said its ITV Studios business remains on track to increase revenue by around GBP100 million at constant currency in 2015, and will also benefit from its recent acquisition of Talpa Media BV.
"For 2015 as a whole we anticipate further strong growth across ITV as we continue to rebalance and strengthen the business creatively, commercially and financially," said Chief Executive Officer Adam Crozier in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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