Love Island helps ITV limit ad revenue decline
ITV said a strong contribution to online revenue from reality show Love Island had helped it to limit a decline in total ad revenue to 5% for the first half of this year.
The broadcaster reported total external revenue down 7% to £1.476 billion and EBIDTA down 13% to £327m for the six months to the end of June, just beating market expectations.
ITV said economic and political uncertainty had continued to impact demand for advertising, with total advertising forecast to be in a range of -1% to +1% for the third quarter.
“The economic and political environment remains uncertain but we are very focused on delivering our strategy and creating a stronger, more diversified and structurally sound business,” Chief Executive Carolyn McCall said.
Total ITV Studios revenue fell 6% in the period, which was attributed to the timing of programme deliveries, but ITV said it expected a solid second half to the year, with “I’m a Celebrity... Get Me Out of Here!” returning.
Full-year revenue for ITV Studios was forecast to grow by at least 5%, the broadcaster said. ITV kept its half-year dividend unchanged at 2.6p per share.