ITV Revenues To Fall 3.2% In 2003, Says Morgan Stanley

ITV advertising is expected to fall by 5.0% in September and by 3.2% in the full year, according to forecasts from Morgan Stanley. Other reports predict that the total TV market will return to a slight positive growth of 0.7% in September.

Commentators are talking of a continued cautiousness in the advertising market partly as a result of the protracted situation in Iraq, although some late bookings have now begun to turn things around slightly.

Positive growth is expected to return to ITV in 2004, at 2.0%, with a rise by 1.6% in both 2005 and 2006, according to Morgan Stanley analysts.

In July Lehman Brothers analysts forecast that ITV revenues would drop by 3.3% this year and grow by 2.5% in 2004.

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