ITV ad revenues up 8% in Q1

ITV’s ad revenues were up 8% in the first quarter of 2010 and are forecast to rise 22% in Q2, according to the company’s interim management statement.

Flagship channel ITV1 saw its share of commercial impacts  – for the year to April 26 – fall 5%, with the ITV family flat. Broadcasting and online revenues were up 6% in the quarter to £390 million.

Total group revenues were up 6%, from £425 million in Q1 2009 to £450 million.

Adam Crozier, ITV CEO, said: “ITV’s financial performance over the first quarter reflects growth in UK television advertising following last year’s record declines. Over two years, revenues are still tracking below 2008 levels.

The outlook for the latter part of 2010 and early 2011 is tough with more testing year-on-year comparators and uncertain market conditions post-election.

“Given also the long-term challenges facing the free-to-air market, change remains an imperative at ITV and we are focused on driving the transformation of the business over the next 3-5 years.”