ITV “cautiously optimistic” as ad revenue on track to return to pre-pandemic levels

Broadcast network ITV is “encouraged” by its increase in ad revenues in 2021.

The firm, which has published its Q1 results today, has seen its total external revenue was up 2 per cent at £709m, up from £694m in 2020.

In addition, the company has seen its ad revenue increase in April increase by 68 per cent on the previous year.

Carolyn McCall, ITV chief executive, commented: “We have made a good start to 2021 with total revenue and total viewing both up, despite the continuing impact of the pandemic. We finished the quarter strongly with the substantial majority of our shows back in production and a recovery in the advertising market.

“We are encouraged by the UK roadmap out of lockdown and remain cautiously optimistic about the year ahead. Our advertising revenues are rebounding from last year with April up 68 per cent and we expect May to be up around 85 per cent and June up between 85 per cent and 90 per cent, compared to the same period in 2020.

“However, the advertising market and worldwide productions remain exposed to the risks associated with the pandemic. Accordingly, we continue to closely monitor the situation in all the countries in which we operate.

“We remain committed to investing in the acceleration of our strategy to digitally transform ITV which will, in part, be funded by the delivery of our cost saving targets.”