Earnings release
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ITV plc Q1 Trading Update for the 3 months to 31 March 2021 Carolyn McCall , ITV Chief Executive , said : " We have made a good start to 2021 with total revenue and total viewing both up , despite the continuing impact of the pandemic . We finished the quarter strongly with the substantial majority of our shows back in production and a recovery in the advertising market . " We are encouraged by the UK roadmap out of lockdown and remain cautiously optimistic about the year ahead . Our advertising revenues are rebounding from last year with April up 68 % and we expect May to be up around 85 % and June up between 85 % and 90 % , compared to the same period in 2020. This is driven by UK COVID - 19 restrictions being reduced and a strong schedule featuring Love Island and the Euros . " However , the advertising market and worldwide productions remain exposed to the risks associated with the pandemic . Accordingly , we continue to closely monitor the situation in all the countries in which we operate . " We remain committed to investing in the acceleration of our strategy to digitally transform ITV which will , in part , be funded by the delivery of our cost saving targets . " Financial performance for the three months to 31 March • Total external revenue was up 2 % at £ 709m ( 2020 : £ 694m ) , despite the COVID - 19 restrictions in place throughout the period , unlike the same quarter in 2020 which only had a limited impact Total ITV Studios revenue was up 9 % at £ 372m ( 2020 : £ 342m ) Media and Entertainment revenue was down 3 % at £ 484m ( 2020 : £ 500m ) impacted by the national lockdown . As expected ITV total advertising was down 6 % and online revenue was up 14 % Operational update ITV Studios : Productions are largely continuing in spite of varying global lockdown restrictions , particularly across Europe We have successfully delivered a wide range of programmes and formats in the UK and internationally , with : о New commissions including Grace , Vigil and The Cabins in the UK and Physical and The Chase in the US о Returning titles including Saturday Night Takeaway , Unforgotten and Line of Duty in the UK , Forged in Fire and Good Witch in the US , The Voice in France , Australia and Germany , and I'm A Celebrity ... Get Me Out Of Here ! in Germany and Australia COVID - 19 restrictions globally continue to impact the delivery of productions with international travel and multi - location shoots , particularly drama Media and Entertainment : Advertising trends have been positive since March . April was up 68 % with the 4 months to the end of April up 6 % , compared to the same period in 2020 We forecast May to be up around 85 % and June up between 85 % and 90 % compared to the same period in 2020 , benefiting from the Euros and Love Island