ITV has said it’s not possible to provide financial guidance for the remainder of the year.
Its after a turbulent second quarter that led to the broadcaster seeing advertising revenues tumble by 43%.
Despite an increase in overall viewing to the ITV family of channels, there was a 17% decline in total Broadcast revenue and a 50% fall in adjusted operating profits.
The broadcaster said it was beginning to see an improvement for July and August , with some FMCG and retail, publishing and broadcasting, cars and interior furnishing categories beginning to spend more. Production on popular soaps Coronation Street and Emmerdale began in June and of the 230 productions that were impacted or paused by the lockdown, around 70% have been delivered or are now back in production.
There are 390,000 subscribers to the enhanced streaming service ITV Hub, but while there was “good growth” for the BritBox venture there weren’t any numbers. Britbox is now available to 60% of UK streaming households – as opppesed to subscribed to – and the international rollout is “on track” with Australia due to launch in Q4 and we intend to expand the service in up to 25 countries worldwide.
