In the nine months to 30 September, total external revenue edged down 1% to £2.13bn from £2.15bn, as a 7% decline net ad revenue offset 8% growth in non-advertising revenue.
British commercial broadcaster ITV heralded "strong growth" at its ITV America production business and U.S streaming service Britbox after posting third quarter financial results in line with market expectations.
ITV Studios is expected to report "good organic revenue growth with profit broadly in line with last year" for the year while online and pay will "deliver good revenue growth". The company forecast its ad revenue to be up 1 percent in the fourth quarter, with October down 1 percent, November trending up 2 percent and December set to bring in a 1 percent gain. ITV said it expects to "outperform" the overall TV ad market in 2017.
"We are now seeing a return to TV advertising from some of the FMCGs (fast-moving consumer goods) and grocers although wider corporate confidence in the United Kingdom continues to be impacted by political and economic uncertainty".
On Tuesday, it reiterated that ITV Studios would for all of 2017 report "good organic revenue growth with profit broadly in line with a year ago".
Sir Peter Bazalgette, ITV's executive chairman, said this was "clear evidence of the benefit of rebalancing the business and generating new revenue streams".
ITV itself bought Italian producer Cattleya last month in a bid to create more high-quality European dramas. Programming costs will be lower with no major sports tournaments, and the broadcaster said it will make £25 million of savings over the year.
ITV in July named easyJet CEO and former CEO of The Guardian Media Group Carolyn McCall its new CEO, effective January 8.
Next up, ITV will be looking forward to the arrival of new CEO Carolyn McCall, who joins in early 2018 as a replacement for Adam Crozier.