ITV expects 2021 advertising revenue to hit record high By Reuters

© Reuters.

By Paul Sandle

LONDON (Reuters) – ITV (LON:), Britain’s largest free-to-air industrial broadcaster, expects sturdy demand from the recovering financial system to drive promoting income to a document excessive this 12 months, it mentioned on Wednesday.

The corporate, which made “Vigil”, “Endeavour” and “Love Island”, mentioned each its broadcasting and manufacturing companies had recovered from the results of the COVID-19 pandemic. Income at each divisions within the 9 months to Sept. 30 exceeded ranges for a similar interval final 12 months and in pre-pandemic 2019.

ITV reported general income for the 9 months to Sept. 30 of two.38 billion kilos ($3.2 billion), up 28% 12 months on 12 months.

Chief Government Carolyn McCall described the efficiency as an “excellent” 9 months “by any requirements”.

Shares within the firm jumped as a lot as 10% in early commerce to a 12-week excessive of 121 pence.

The corporate mentioned it expects promoting income to develop by 24% this 12 months, helped by a buoyant market and the flexibility to ship thousands and thousands of viewers on its major channels and focused audiences on video on demand.

McCall has targeted on enhancing the broadcaster’s video-on-demand supply, which had fallen wanting requirements set by streaming specialists similar to Netflix (NASDAQ:).

She mentioned {that a} redesigned ITV hub resulted in a 22% improve in month-to-month energetic customers to 9.6 million and a 39% rise in promoting income on the platform.

Whereas competing with ITV for viewers’ consideration, streaming providers are additionally patrons of productions by ITV Studios.

The corporate mentioned it expects continued sturdy income development from streaming platforms, led by reveals similar to “Snowpiercer” for Netflix.

On ITV’s personal channels, the European soccer championship finals, “Love Island” and dramas similar to “Manhunt: The Evening Stalker” and “Vera” delivered sturdy scores, serving to the broadcaster’s channels carry their share of British viewers to 22.5% from 22.2%.

($1 = 0.7414 kilos)



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