Pan regional broadcast group Central European Media Enterprises (CME) saw its revenues rise by 5% to US$143.6m (110.7m), its first increase in more than a year. However, the company, which runs a number of free-to-air and digital pay channels across central and eastern Europe, said that demand for TV advertising continued to decline.
CME, which is owned by Time Warner and US investor Ronald Lauder, has forecast growth of between 2-6% in ad spending in the second part of the year. President and chief executive Adrian Sarbu said: ÂDemand for TV advertising continued to decline in the first quarter, although at a slower pace. Central and Eastern Europe will gradually emerge from the crisis during the first half of 2010 and in the second half the demand for TV advertising is expected to show single digit growth.Â