ITV sees third quarter growth thanks to Love Island and the Rugby World Cup

By Francis Jay

Channel sees gains in both viewing figures and advertising revenue

                                

UK channel ITV has reported healthy third quarter earnings and viewing figures, attributing its success to the Rugby World Cup and its popular dating show Love Island.

ITV shares have gained 30 per cent in the last three months and were trading at £138.25 at time of writing.

Despite following the trend of other broadcasters and taking an increasingly cautious approach to spending in the midst of Brexit uncertainty, ITV’s advertising revenue grew by 1 per cent in Q3. This return to growth will be welcomed after the company saw a 5 per cent decline in advertising revenue in the first half of 2019.

The success of Love Island overseas has contributed to ITV’s return to winning ways with ITV America’s Love Island spin off proving a hit with both advertisers and viewers.

The Rugby World Cup final managed to attract further eyeballs, especially with England reaching the final. CEO Carolyn McCall stated: “On screen and online viewing performed well with highlights including four of the five highest rating new dramas so far this year and the Rugby World Cup which saw a peak audience of 12.8 million viewers during the final.”

The company will hope to continue its Autumn form into the Christmas period. The channel’s flagship winter reality show, I’m a Celebrity Get Me Out of Here launches in four days. ITV is reported to have paid Caitlyn Jenner £500k to enter the jungle for the show.

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image