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