ITV hopes World Cup to lift ad revenues by up to 13%
ITV chief executive Adam Crozier has expressed hope that the football World Cup in Brazil could lift the company's advertising revenues by up to 13 per cent later this year.
In the three months ended March 31, the commercial broadcaster suffered a fall in the number of viewers, while revenue growth missed analysts' expectations.
Crozier said he was sure that advertising revenues would increase by 12 per cent to 13 per cent in the current quarter, thanks to the upcoming football tournament, which is scheduled to kick off on 12th of June.
Expressing optimism, he said, "We continue to make progress with our strategy of growing and rebalancing the business in the UK and internationally. While ITV family share of viewing has been lower than expected so far this year we have confidence in our strong schedule to come, including the football World Cup in June."
While the group's share of the TV audience slipped from 23.4 per cent to 21.6 per cent in the three-month period; ITV's share of viewing slipped 5 per cent, from 16.4 per cent to 15.6 per cent.
Total revenue increased just 2 per cent to £585 million in the year to date, while ITV's advertising sales increased 19 per cent in April this year, as compared with the corresponding month of the previous year.
Following the announcement of the quarterly results, the commercial broadcaster's shares shed 5 per cent to £1.81 apiece.