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Following two months of growth in the TV market, early indications show that the broadcasters are bracing themselves for a disappointing March.
Agencies, all of which have now signed up to the Contract Rights Renewal procedure, are expecting the month's revenues to be down by about 4 per cent, with all TV stations hit by the slump.
Significantly, this could mark the first time that ITV's share of TV revenue has slipped below the 50 per cent mark, even though it is expected to outperform the growth in the market in February. Shares in the merged ITV plc began trading on Monday.
Broadcast directors are baffled by the predicted decline, particularly as Easter is in early April this year. Normally, this would lead to additional money coming ...