Ten (ASX:TEN) pulls out of Free TV ad revenue collation

Ten Network Holdings (ASX:TEN) has withdrawn its participation from the collation of Free TV advertising revenue data in response to alleged accuracy concerns.

The company said in a statement it had “serious concerns regarding the accuracy of both the composition and allocation of metropolitan commercial television revenue released by Free TV today for the six months to June 30.”

Free TV today published revenue numbers indicating Ten had a 28.9% share of the major-metropolitan ad market during the six-month period.

But Ten's CEO, Grant Blackley, had set a target of a 30% share.

In the statement, Ten added that its advertising revenue from the market grew 21.2% year-on-year to $402.23 million.