Business

ITV revenues rise on advertising recovery

X Factor judges (left - right) Louis Walsh, Dannii Minogue, Cheryl Cole and Simon Cowell
Image caption The X Factor is one of ITV's most-watched programmes

ITV has announced an 11% rise in revenues, thanks to the continuing advertising recovery.

Broadcasting and online revenues for the year to date were up 16%, ITV said - slightly lower than the 16.5% growth it reported in its first half results.

However, "external revenues" - which covers sales of shows to other networks - were down 10%, "emphasising the need for creative renewal", it said.

Chief executive Adam Crozier said the outlook for 2011 was "uncertain".

Transformation plan

"The television advertising market has continued to recover strongly," said Mr Crozier in a statement. "However, this does not disguise the significant challenges ITV faces."

"The economic outlook for 2011 is uncertain and we continue to plan on a cautious basis," added the ITV boss.

Mr Crozier joined the company in April this year, and has been pursuing a transformation plan, including a deal with Sky to broadcast its channels in high definition.

Last month, the broadcaster signed three-year contract extensions for popular talent shows the X Factor and Britain's Got Talent.

However, the latest numbers show that ITV's share of commercial television audiences in the UK (a measure that excludes BBC viewers) slipped 1% to 39.3% in the nine months to September.

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