ITV touts record advertising revenue for 2021 following growth in Q3

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Broadcaster ITV touted record advertising revenue for 2021 after reporting a rise in revenue in the first nine months of the year, led by strong performance in its studios devision.

For nine months ended 30 September, total external revenue was up 28% at £2,381 million year-on-year, and up 8% compared to 2019.

ITV studios revenue was up 32% at £1,193 million, and up 6% compared to 2019.

Looking ahead, total advertising revenue for the full year 2021 was expected to be the highest in ITV's history, up around 24%.

'This is driven by the re-opening of the economy and the delivery of the Commercial strategy to reinforce the power of mass simultaneous reach and build a strong addressable advertising platform,' the company said.

'We have a strong programming slate going into next year as we continue to invest in content and we expect total schedule costs will be around £1.16 billion in 2022. This includes the FIFA World Cup, the FA Cup and a strong schedule of dramas which will drive increased levels of live and streaming viewing.'