Bad news for ITV?
In the first three months of the year revenues at broadcaster ITV fell three per cent. This came about as advertising income managed to drop nine per cent.
ITV has said it expects to see similar falls continue for the first half of the year.
The company blamed much of the fall on strong revenues it gained the previous year from its coverage of the European Championships football.
Its studio operations saw revenues rise by seven per cent.
ITV has said the lack of a major football tournament this summer will mean the firm sees an eight to nine per cent fall in advertising revenue for the first six months of 2017.
The effect will be worse in June, ad sales on its TV channels are expected to be down 15 to 20 per cent “against the tough comparator of the Euros last year”.
Despite this, ITV has said its online advertising is growing from strength to strength. This was up 22 per cent for the first three months of the year.