Carlton Communications chairman, Michael Green, says that despite some signs of advertising improvement in the first quarter of the year, the group still expects the following months to be challenging.
Addressing the company’s AGM this morning, Green said that ITV1’s ad revenues for the first half of the financial year are expected to be more or less flat as compared to 2002. Easter falls in Carlton’s Q3 this year, for which trading has begun well, according to Green.
“However, the threat of war caused uncertainty amongst our advertisers and it remains to be seen how they react to the conflict,” he added.
The statement also said that ITV’s three channels have delivered an overall peak-time share of commercial audiences of 53% during the first five months of our current financial year and that ITV1 is now ‘more attractive to advertisers’.
“We are focused on managing our business through an uncertain period, reducing costs, working towards the merger with Granada and building one of the largest commercial broadcasters in Europe,” said Green.
The Competition Commission is currently investigating the Carlton/Granada merger and is due to report on 25 June. “The merger will not affect the competition for viewers. ITV is already one network and advertisers follow viewers and viewers follow programmes. We look forward to working with the Competition Commission over the coming months,” said Green.
Last week Granada also indicated that its ITV revenues would be flat in the first half, although April is expected to show growth of 3-5%.
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