UK broadcaster ITV has announced a nine-month 11% increase in revenues to £1.45 billion, pointing to a recovering ad market that supplied a 16% increase in the three months leading to September 30. During that time period, audition episodes for The X Factor and World Cup finals aired on the net.
A 10% growth in revenue is forecast for the fourth quarter of 2010. On the ITV Studios front, revenue for the production arm fell 10% to £205 million, a situation that the broadcaster said emphasizes the ‘need for creative renewal.’
ITV CEO Adam Crozier added that ITV faces ‘significant challenges’ in the year ahead. ‘The economic outlook for 2011 is uncertain and we continue to plan on a cautious basis,’ he offered.
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