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In The Midst Of An Advertising Boom Itv Puts The Worst Of The Pandemic Behind It

The worst of the pandemic’s impact is passed, according to broadcasting behemoth ITV, which also showed a robust advertising bounce, with the Euros boosting it to a record June performance.
The production company behind blockbuster shows including I’m A Celebrity…
I have to get out of here!
Last month, Love Island reported a 115% increase in ad income, the largest in ITV history, thanks to the postponement of the Euro 2020 football tournament and the relaxation of coronavirus restrictions.
In the six months to June 30, ITV reported a 27% increase in external income to PS1.5 billion and a 29% increase in total advertising sales to PS866 million.
Pre-tax earnings increased to PS133 million from PS15 million a year earlier, while underlying profits more than quadrupled to PS301 million from PS143 million.
It expects ad sales to climb over the summer, albeit at a slower pace, as it compares to a strong performance a year ago, with July expected to be 68% higher and August up to 20% higher.
Thanks to the strong recovery, the company has promised to reinstate shareholder dividends, with a final payout of 3.3p per share planned for the full-year results in 2021.
“Our half-year results suggest that ITV is emerging from the worst effects of the pandemic,” Carolyn McCall, ITV’s chief executive, stated, adding, “We are hopeful about the future, despite the ongoing pandemic risk on our advertising and ITV Studios income.”

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