ITV ad revenue sees double-digit growth

ITV’s ad revenue grew by 11% in the third quarter of 2013, according to an interim management statement released today.

The free-to-air broadcaster recorded ad revenue of £810 million in Q3, compared with £730 million on the same period last year.

Subsequently, broadcast and online revenues were up 3%, driven largely by growth in online, pay and interactive – up 17%.

Excluding TV sponsorship revenues, ITV said TV ad revenue grew 8% in October and is forecasting November to be up 4% and December up 1%.

Total revenue was up 6% to £1,664 million – higher than the 5% analysts forecast.

“We continue to make good progress with our strategy of growing and strengthening ITV both creatively and commercially, and all parts of the business are performing well,” said Adam Crozier, ITV chief executive.

“We’re confident of a strong performance over the full year – both organically and from our recent acquisitions – underpinned by a delivery schedule which this year is weighted to Q4.”

Last week ITV signed a new three-year deal with Syco Entertainment and FremantleMedia UK which will give the broadcaster the rights to The X Factor and Britain’s Got Talent through to 2016 – estimated to be worth between £140 million and £150 million.

ITV expects growth across the company to continue into the New Year and predicts double-digit revenue growth in online, pay and interactive.