ITV says advertising revenue set to be broadly flat in nine months to end of September

Broadcasting giant ITV has warned of a sharp drop in advertising revenues over the summer, but is hopeful of a year-end boost from the Fifa World Cup football tournament.
Greg Wright
By Greg Wright
Published 28th Jul 2022, 09:20 BST

The group behind hit shows including Love Island and I’m A Celebrity … Get Me Out Of Here! saw ad revenues rise 5% over its first half, but is expecting a fall of 9% in July and 18% in August as it comes up against last year’s boost from the European football championships and uncertainty in the wider economy.

Overall, it predicts ad revenues will be broadly flat in the nine months to the end of September, while November and December will be helped higher by the Fifa tournament.

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Its half-year results showed pre-tax profits remained flat at £301 million, while operating profits rose 46% to £228 million in the six months to June 30.

ITV chief executive Carolyn McCall said: “Despite the tough comparators of last summer, when the Euros and a rebounding economy drove record advertising revenues, total advertising revenue is expected to be broadly flat in the nine months to the end of September.

“We are mindful of the macroeconomic uncertainty; however, we have, for the first time ever in the fourth quarter, the football World Cup to look forward to.”

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