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ITV profits drop amid ‘challenging’ advertising market

by LLB Reporter
28th Feb 18 10:29 am

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Britain’s biggest free-to-air commercial network, ITV, today reported a 5 per cent drop in adjusted full-year earnings amid a steep fall in TV advertising.

ITV reported core earnings of £842m, with a drop in ad revenue partly offset by underlying growth in its studios content production business.

The new ITV chief executive, Carolyn McCall, who joined from easyJet in the new year, blamed “ongoing economic and political uncertainty” for making brands wary about committing to advertising spending.

McCall further said that the company’s operational performance in 2017 in a challenging environment was strong, and its viewing performance and studio gave it a solid foundation to build on.

“We have had a great start to 2018,” she said, adding: “On-screen we have grown our viewing share and volume and online we have continued to deliver double digit growth in viewing.”

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