ITV posts strong results

ITV is expected to hit its highest advertising revenue in history amid the Euros and post-pandemic recovery.

The group’s revenue is up 30% to £1.3bn for the first nine months of the year.

“By any standards ITV has had an outstanding nine months. Both our Studios and Media & Entertainment (M&E) businesses have performed very strongly,” said Carolyn McCall, the chief executive of ITV.

“Revenue from each business over the nine months is up both on last year and on 2019. This drove total external revenue up 28% compared to 2020 and 8% higher than 2019.”

Commenting on the ITV results, AJ Bell investment director Russ Mould, said: “There was always going to be plenty of growth for ITV in 2021 given the comparison with a pandemic disrupted 2020 but for the business to be on course for the highest advertising revenue in its history is an impressive achievement.”

“It underlines the continued relevance of television as a medium to advertisers given its reach and its arguably greater degree of safety compared with digital advertising.”