US demand, rugby world cup boost ITV ad revenues
UK broadcaster ITV said strong US demand for its reality programming drove a rise in third quarter advertising revenues to the top end of expectations.
Revenues for the period were flat and the company said it expected full year advertising revenue to be around 2% lower with guidance of final quarter result of flat to up 1%.
Total advertising revenue for the first nine months of the year fell 3% to £1.24bn.
The company said its studios unit would benefit from a “very strong” second half delivery schedule as US viewers tuned in to its Love Island programme. England's run to the final at the rugby union world cup in Japan also provided a lift.
“We expect this performance to continue in Q4, and over the full year we are confident that we will deliver at least 5% growth in ITV Studios' total revenues at a margin of 14% to 16%,” ITV said on Tuesday.
"On screen and online viewing performed well with highlights including four of the five highest rating new dramas so far this year and the Rugby World Cup which saw a peak audience of 12.8m viewers during the final," said chief executive Carolyn McCall.