ITV has reported a 2% revenue increase for 2017 despite a 5% fall in advertising which was worse than the previous year but in line with industry estimates.
The UK’s biggest commercial broadcaster reported revenue at £3.13bn, up 2% year on year, which it said was driven by double-digit growth in non-net advertising revenue.
NAR for the ITV family of channels, however, was down 5% to £1.59bn – worse than the 3% drop in 2016, which was the first annual fall in ad revenues for ITV since the 2009 recession.
ITV will benefit in the second quarter from World Cup football coverage.
Due to the uncertain economic outlook, retail, finance and food advertising categories continue to see declines for ITV
This came despite positive news from supermarkets, which increased spend, as well as the FMCGs which returned to spend in the second half of 2017.
Entertainment and leisure advertising was down, which ITV said was impacted negatively in comparison to higher spending during European Football Championship coverage in 2016.
Cars and telecoms, meanwhile, increased their spend around product launches. Digital brands are continuing to “spend heavily” on TV to build brand awareness, ITV added.
Broadcast and online total revenue was down 3% year on year to £2.08bn while there was 7% growth in online, pay and interactive, driven by double-digit growth in online advertising. However, this was offset by the 5% decline in NAR.
Including sponsorship, VOD and self-promotion, ITV total advertising was down 3%.
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