British broadcaster ITV has reported a 2% rise in revenues to £709m for the first quarter.The positive total revenue trajectory is founded on a sharp recovery in ad revenues, which rose 68% in April after falling 6% in the three months to the end of March – cementing confidence in a predicted 85% increase in May and a rise of 85-90% expected for June.
Eurozone PMIs: Virus presents continued riskÂ
Here s more reaction to those PMI figures from Samuel Tombs at Pantheon Macroeconomics who warns the virus may put a dampener on economic reopening:Â
The services PMI now seems to be catching up with the rocketing manufacturing index, sooner than we expected. The risk is that this rebound in activity comes at the expense of controlling the virus. Cases are still rising at a high rate. The good news is that vaccination has ramped up significantly, indicating that the major eurozone economies will reach herd immunity by July. This ought to allow reopening by the end of the second quarter, just about.
ITV has said it is “cautiously optimistic” about its recovery in the year ahead after a rebound in advertising sales in recent months.
The broadcaster told shareholders it has been “encouraged” by trading in recent months as revenues increased amid strong growth in its ITV Studios production and distribution arm.
Total external revenues jumped by 2% to £709 million in the three months to March 31 despite pandemic restrictions throughout the period this year.
It said ITV Studios reported a 9% lift in revenues to £372 million as production largely continued despite the pandemic.
ITV Studios hailed the successful delivery of a number of new commissions, such as dramas Grace and Vigil in the UK, as well as returning titles including Saturday Night Takeaway, Unforgotten and Line Of Duty.
ITV has said it is “cautiously optimistic” about its recovery in the year ahead after a rebound in advertising sales in recent months.
The broadcaster told shareholders it has been “encouraged” by trading in recent months as revenues increased amid strong growth in its ITV Studios production and distribution arm.
Total external revenues jumped by 2% to £709 million in the three months to March 31 despite pandemic restrictions throughout the period this year.
It said ITV Studios reported a 9% lift in revenues to £372 million as production largely continued despite the pandemic.
ITV Studios hailed the successful delivery of a number of new commissions, such as dramas Grace and Vigil in the UK, as well as returning titles including Saturday Night Takeaway, Unforgotten and Line Of Duty.
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