Business

ITV confident on advertising as revenues rise

Melissa Gorga, Jacqueline Laurita, Caroline Manzo, Kathy Wakile, and Teresa Giudice of 'The Real Housewives of New Jersey' Image copyright Getty Images
Image caption Leftfield-produced Real Housewives of New Jersey has been a hit for Bravo

ITV has seen total revenues rise in the first three months of the year, and said it expects advertising revenue to rise 12% to 13% in the second quarter.

Total revenue rose 2% to £585m. But revenues at ITV studios fell 4%, which the broadcaster blamed on programme timings.

However, ITV said it was "confident" its acquisitions would help drive "good revenue growth".

It recently bought a controlling stake in US broadcaster Leftfield.

Leftfield is the production company behind series such as Pawn Stars and the Real Housewives of New Jersey.

Chief executive Adam Crozier said the deal was "a major step forward" in its strategy of building an international content business.

Mr Crozier said its stronger schedule, including the start of the World Cup in June, would help to boost revenues in the second half.

The company, home to Coronation Street and Britain's Got Talent, said advertising revenue rose 19% in April, and forecast a rise of 7% in May and 12-15% in June.

"We continue to make progress with our strategy of growing and rebalancing the business," added Mr Crozier.

Mr Crozier's plan is to achieve an equal split between advertising and production revenues, to help protect it from the volatility of the advertising market.

As part of this strategy, ITV has made several acquisitions. Last year, it bought the US production firms Thinkfactory Media and High Noon and the UK producer The Garden, maker of Channel 4 shows including 24 Hours in A&E and The Audience.

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