UK broadcaster ITV has today reported a 4% drop in first-quarter revenue due to weaker advertising demand caused by the late timing of Easter and political and economic uncertainty.
The company, which broadcasts soap opera Coronation Street, reported revenue of £743m, beating market forecasts of a steeper drop to £729m.
ITV's chief executive Carolyn McCall said the outcome was "very much as expected", with ITV performing well onscreen and online, driven by new dramas Manhunt, Cheat, Cleaning Up and The Bay.
Production division ITV Studios, which makes hit show "Line of Duty", reported a 1% rise in revenue in the quarter, and McCall said it would deliver good growth over the year.
It also signed a deal with ad tech company Amobee to offer better programmatic advertising on its ITV Hub on-demand service, giving advertisers the choice to reach mass audiences on its channels and data-driven targeted audiences online.
ITV said that advertising in April, which included the Easter holiday, was up 8%.
But it forecast that advertising would fall by 2% in May and by around 20% in June, a month that saw exceptional demand a year ago due to the Football World Cup.
