ITV has "warned investors to expect a marked decline in advertising revenues" in the first half of '17 as the U.K.’s biggest commercial broadcaster reported a 9% fall in ad sales to £393M ($508M) in the first three months of the year, according to David Bond of the FINANCIAL TIMES. After recording its first annual drop in advertising revenues since '09 last year, the broadcaster was "already braced for further falls" in the early part of '17. On Wednesday, in his final trading update before he stands down as CEO next month, Adam Crozier "confirmed those fears," forecasting advertising revenues would fall 8-9% in the first six months. The company said that it expected advertising to be down 15-20% in June, "due to the absence" of a big int'l football tournament. Last year, ITV was "boosted by its coverage of Euro 2016 in France" (FT, 5/10). In London, Sam Dean reported total external revenue in the period was down 3% to £731M ($946M), but its ITV Studio operation "enjoyed revenue growth" of 7%, to £343M ($444M). The broadcaster's online, pay & interactive division was also up 12%, thanks to 22% "growth in online advertising." Crozier: "While the economic environment remains uncertain, our guidance over the full year remains unchanged" (TELEGRAPH, 5/10).
