TV ad market faces dip after Brexit vote

The TV ad market is facing a drop of up to 5% in September and October as some advertisers put spending on hold because of uncertainty around Brexit.

One sales source described the market as "slightly depressed" but "not horrific" as broadcasters seek "late money".

ITV has already warned that its revenues will be down by 5-10% in September compared with a year ago, when the Rugby World Cup gave it a fillip. However, Channel 4 is hoping its Paralympics coverage will shore up ad revenues.

Media buyers have differing views. Some say October could be down by as much as 10%, but others believe it will decline only slightly.

October and November are crucial months for broadcasters, when retailers launch their biggest campaigns of the year in the run-up to Christmas.

Before the Brexit result, forecasters had expected the TV market to be up 5% this year. It is now likely to be flat.

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