Net advertising revenue at ITV1 has declined approximately 12.5% over 2006, with adult share of commercial impacts down 10.4% at 33% over the same period.
In a trading update released today for the twelve months ended December 31, ITV said that although advertising revenue was down 12.5%, this outcome is better than expected under the contract rights renewal mechanism, partly reflecting strong growth from regional television advertising.
Net advertising revenue for GMTV fell approximately 3% in 2006 whilst advertising revenue for ITV digital channels was up approximately 40%.
In the trading statement, ITV said that in 2007 it is budgeting programme investment being maintained at approximately £1 billion.
This includes ITV1 total network budget of £815 million (less a contribution from ITV minorities of approximately £55 million), ITV1 regional spend of c£120 million and GMTV programming of c£30 million plus ITV channels investment of c£100 million.
The broadcaster added that the investment in programming for its digital channels in 2007 is funding an increase in the number of original commissions and acquisitions, enabling continued growth in viewing share.
After an in-depth search, Michael Grade was last month named as ITV executive chairman in a shock move (see BBC Chairman Jumps Ship To ITV Top Job).
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