Love Island and World Cup lift for ITV ad sales boosts McCall
ITV has said advertising sales were bolstered by hit reality show ‘Love Island’ and England’s better-than-expected run at the soccer World Cup.
The strong summer of viewing is a plus for CEO Carolyn McCall, pictured, who joined from EasyJet in January and is reshaping the broadcaster’s strategy.
ITV, hit by Britain’s vote to leave the EU in 2016, has been looking to claw back ad revenues, while also fending off the threat of new digital rivals such as Netflix and Amazon.
McCall announced plans to boost investment in ITV’s catch-up service, the ITV Hub, and said she intends to launch a subscription video-on-demand service featuring local content to compete with Netflix.
“We know people are willing to pay for other subscription services in this country, particularly if it has distinctive British content,” McCall said on Bloomberg TV, adding ITV was talking to a range of potential partners.
“We have an absolute intention to get into that area.”
The stock rose 1.4pc to 172.85 pence at 8.36 am in London.
Total advertising revenue rose 2pc in the first six months of 2018.
ITV ad sales are expected to be “broadly flat against a backdrop of wider market uncertainty” in the third quarter, the company said.
Those revenues were predicted to grow 0.7pc, according to an average of three analyst estimates compiled by Bloomberg. (Bloomberg)
France celebrate winning the World Cup final in Russia – the sporting event proved to be a big hit for ITV