19 April 2004
19th April 2004
ITV plc - Chairman's AGM Statement
At the first Annual General Meeting of ITV plc today, the Chairman, Sir Peter
'Since our recent results and trading update on the 3rd March the businesses
have continued to perform satisfactorily.
'In the first quarter to the end of March ITV1's all time viewing share in
analogue homes and in multi channel homes is up on last year and ITV1's peak
time viewing share is up 1.5% in all homes. Adult impact volumes for ITV1 are
up 2.4% in the first quarter compared to the same period in 2003. ITV1's share
of adult commercial impacts over the first quarter was 42.7%, which is equal to
the calendar year 2003 total.
'Our ITV1 net advertising revenue in the quarter to March 2004 was level with
the same period last year and our total net advertising revenue was up 1%. In
April and May we currently estimate that our ITV1 net advertising revenue will
be up by 2.5%. ITV2 net advertising revenue has grown at around 50% in the year
to date, albeit from a low base.
'We have now negotiated our 2004 ITV1 sales contracts, predominantly on the
basis of the Contract Rights Renewal structure agreed with The Office of Fair
Trading, and we would expect ITV1's share of total television advertising in
2004 to move in line with our ITV1 impact performance in 2003.
'ITV has continued to produce many successful shows this year. Coronation Street
and Emmerdale continue to perform well, alongside highly popular event
television like I'm a Celebrity... Get Me Out of Here!, hit entertainment shows
like Ant and Dec's Saturday Night Takeaway and both returning and new drama
series like William and Mary and Life Begins.
'ITV News has benefited from investing in the latest studio technology, which
allows us greater production flexibility and creates a unique offering for
viewers. At the same time we have updated our regional news sets and improved
our news coverage with an integrated national and regional news hour.
'The integration of Carlton and Granada is progressing well. We have merged the
two company headquarters. The top 150 executives have been appointed across the
group. We have located all the sales house staff in one location at Gray's Inn
Rd alongside the ITV commissioning, scheduling and marketing teams. The
integration of the two programme production businesses is progressing well and
the division has been branded Granada. We are on track to deliver the £100
million of cost savings and to achieve that run rate by the end of 2005.
'During my first month as Chairman of ITV I have been meeting with executives
across the business to help me understand the issues that we face and the
actions that are being taken. I have been impressed with the quality of the
management team, and how they are driving the business forward at the same time
as implementing a detailed and complex merger plan with such speed.'
For further enquiries please contact:
ITV plc T: 020 7620 1620
Charles Allen Chief Executive
Henry Staunton Finance Director
James Tibbitts Company Secretary
Susan Donovan Director of Communications
Citigate Dewe Rogerson T: 020 7638 9571
This information is provided by RNS
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