British commercial broadcaster ITV has reported that net advertising revenues for its main channel ITV1 were down 9% for the first six months of 2007.
This compared with an overall market down 0.3%, but the broadcaster said its performance had stabilised.
ITV said in a trading statement that net advertising revenues for the whole company were down 5%. It said ITV1's overall performance had stabilised as a decline in ratings slowed.
ITV has linked its fall in ad revenue at ITV1 to the Contract Rights Renewal (CRR) regulatory scheme, which in its simplest form allows advertisers to cut the percentage of their marketing budgets spent on ITV1 if ratings decline.
