Agency broadcast directors expect total TV revenues for the first quarter of 2005 to rise by 11 per cent, despite a lack of blockbuster programming.
ITV's revenue is expected to rise by 6 per cent, Channel 4's by 17 per cent and five's by 19 per cent. The hike in five's revenue appears surprising because one of its biggest advertisers, Procter & Gamble, pulled its advertising for the first three weeks of the year. However, over the same period last year the channel carried no Initiative clients.
Multichannel has also seen an improvement in its fortunes, with Sky Media's revenue expected to be up 17 per cent year on year. This corresponds with an increase in impacts, including strong performances from ITV2.
Kevin West, the TV buying director at Starcom Media-vest, said: "What we thought would be a fairly depressing year with no sports programming is turning encouraging, with money continuing to come through from last year."
TV's fortunes contrast with those of radio. GWR warned the City that the market was "inconsistent" and said revenues would fall this month by 4 per cent year on year.