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Carlton Says Subdued TV Ad Market Will Show Upturn In Q4

Carlton Says Subdued TV Ad Market Will Show Upturn In Q4

The resumption of like for like advertising growth in the TV market is unlikely before the fourth quarter of the year, Carlton Communications chairman Michael Green told the company’s AGM this morning. Green described the UK television advertising market as ‘currently subdued’ in comparison with last year, with ITV’s revenue in the first for months down 5%.

“ITV’s aim is to beat its free-to-air rivals decisively in peak time and maintain its position as the most popular channel in multi-channel homes. The ITV schedule has made a strong start to calendar 2001, with an average peak time viewing share of 38.6 per cent in the first seven weeks – 1 share point up on last year and almost 12 percentage points ahead of BBC1,” said Green.

“The challenge for Carlton in the year ahead is to build on our strong assets in UK commercial television. In the current year we are on target to book close to £1 billion of advertising revenue, invest over £200m in new television production and make secondary and international sales of television programmes and other properties of £80m,” he added.

The outlook initially boosted Carlton’s stock, which finished at 520½p today.

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