ITV plc (ITVPF)
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ITV shares fall as rival Channel 4 draws posts biggest loss in 40 years
Shares in ITV PLC (LSE:ITV) were lower after rival Channel 4 reported a £52 million loss, the largest in its 40-year history, due to a slowdown in advertising revenue Despite the challenging economic environment, the C4 continued to invest heavily in programming, which CEO Alex Mahon attributed to supporting the UK's creative economy. Channel 4's top line fell by 10% to just over £1 billion in 2023, down from a £3 million surplus in 2022, marking its first loss in four years.
ITV and other UK companies did not benefit from state aid, EU's top court rules
Shares in ITV PLC (LSE:ITV) rose 1.2% after Europe's top court annuled a previous regulatory ruling against the UK over purported state aid payments. The Court of Justice of the European Union sided with the UK in its fight against the European Union's order to recover millions from companies including ITV and the London Stock Exchange Group PLC (LSE:LSEG).
ITV to use AI to streamline captioning
ITV PLC (LSE:ITV) has partnered with AI-Media to use artificial intelligence to streamline its closed captioning. "At ITV, we are constantly seeking innovative solutions to improve our services," said David Padmore, director of accessibility for ITV.
ITV profits surge as digital advertising growth offsets Hollywood strike impact
ITV PLC (LSE:ITV) reported stronger profit growth than expected for the first half of the year, driven by strong online advertising for the Euros, Love Island and Mr Bates vs The Post Office. Total revenue for the first six months of 2024 fell 3% to £1.9 billion, with total advertising revenue up 10%, ahead of guidance, but offset by the expected decline in revenue from the ITV Studios production department.
ITV's Euro 2024 boost to dominate half-year update
ITV PLC (LSE:ITV) interim results are due on 25 July with how much of a bump England's Euro 2024 run has given ad revenues a key point of interest. Some commentators have suggested that ITV's TAR (total ad revenue) could be ahead by as much as 20% year-on-year during the second quarter, with a small tailwind for an improving backdrop ex-the football as a kicker.
ITV reaping strong Euro 2024 tailwind says Deutsche Bank
How big a lift will Euro 2024 give ITV PLC (LSE:ITV)? A sizeable one, if the numbers being crunched by Deutsche Bank are a guide.
ITV inks deal to show EFL and Carabao Cup games
ITV PLC (LSE:ITV) signed a new deal with Sky Sports on Friday allowing it to broadcast EFL Cup and Championship football games over the next couple of years. Starting from January next year, the broadcaster will show a select amount of games from the cup and league, beginning with next season's Carabao Cup semi-final.
ITV gets target upgrade ahead of Euro ad boost
ITV's point of interest in its latest update was the solid 12% advertising growth forecast for the second quarter boosted by a strong programme grid including the '24 Euros. While the weakness in the Studios business is expected to continue into quarter two, management added that the arm's revenue would be flat for the year, implying an improved delivery schedule over the remainder of the year.
ITV gets target upgrade ahead of Euro ad boost
ITV's point of interest in its latest update was the solid 12% advertising growth forecast for the second quarter boosted by a strong programme grid including the '24 Euros. While the weakness in the Studios business is expected to continue into quarter two, management added that the arm's revenue would be flat for the year, implying an improved delivery schedule over the remainder of the year.
ITV buys stake in Purplebricks in return for advert space
ITV PLC (LSE:ITV) has announced an investment of up to £4.5 million in online estate agent Purplebricks. An agreement has been made for ITV to buy £1.5 million worth of convertible loan notes in Purplebricks owner Strike Ltd, the broadcaster announced on Wednesday.
ITV buys stake in Purplebricks in return for advert space
ITV PLC (LSE:ITV) has announced an investment of up to £4.5 million in online estate agent Purplebricks. An agreement has been made for ITV to buy £1.5 million worth of convertible loan notes in Purplebricks owner Strike Ltd, the broadcaster announced on Wednesday.
ITV starts job cuts as ad slide continues
ITV has announced 200 job cuts to save money as it battles a slide in advertising revenues. An email to staff from chief executive Carolyn McCall, chief executive confirmed redundancy consultations have started as part of a programme to save £50 million.
