ITV's ad revenues plummet

ITV's net ad revenues have dropped by £59m in the set of interim results released by the broadcaster today. The net ad revenue for this half of the year is £595m compared to £654m reported for the same period last year.

Group ad revenues have also taken a hit, falling from £752m in the first half of 2006 to £717m in 2007 - a total decrease of £35m. Despite the year-on-year declines, the summer ratings improvement and a promising autumn schedule is expected to create better third quarter. ITV expects net advertising revenues at ITV1 to increase by 1% and total net advertising revenues to increase by 4%.

During Michael Grade's first six months as executive chairman, the broadcaster has reported group earnings of £151m. This is a £51m decrease from the figure calculated for the same period last year but a marked increase on the figure predicted by the City. Analysts expected group earnings before tax would be £141m.
ITV has suffered the loss of phone revenues from the TV phone-in scandal and according to Grade, needs to work hard to regain its viewers' trust.