ITV ad revenues down 8%

The latest ITV results for the second quarter of 2017 reveal a drop in ad revenue as the broadcaster feels the squeeze from political and economic uncertainty.

Net advertising revenue was down 8% in Q2 from £838m to £769m, however this was an improvement on the first quarter’s 9% decline and was offset by a 7% boost in revenues for ITV Studios at £687m.

ITV said ad categories such as retail, finance and food had all seen declines due to the weakening pound causing inflationary pressure and leading advertisers to reduce spend.

Meanwhile, ‘online, pay and interactive’ revenue showed good growth, up 5% to £112 million.

Total external revenue was down 3%, while pre-tax profit fell 16% to £259m in the six months to June 30.