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ITV 2021 advertising revenue set to be highest in broadcaster’s history

UK commercial broadcaster ITV is expecting to achieve the highest advertising revenue in its history in 2021.

Carolyn McCall

In its third-quarter trading statement, ITV said it expects total advertising revenue in 2021 to rise by 24% year-on-year to the highest level it has recorded in its 66-year history. Total ad revenue fell by 11% year-on-year in 2020 amid the Covid-19 pandemic and national lockdowns, while in 2019 it slipped by 1.5%.

According to the broadcaster, growth in 2021 is being driven by “the re-opening of the economy and the delivery of the commercial strategy to reinforce the power of mass simultaneous reach and build a strong addressable advertising platform.”

Total ad revenue in the first nine months of 2021 grew by 30% compared with the first nine months of 2020, when it fell by 16% year-on-year.

Overall, total external revenue in the first nine months of 2021 was up 28% versus the same period in 2020 and 8% higher than the first nine months of 2019.

Within this, total revenue at ITV Studios in the year to the end of September increased by 32% year-on-year and 6% on the same period in 2019, while Media & Entertainment revenue grew by 26% year-on-year and 8% on the first nine months of 2019.

ITV added that it remains on plan for the year, mitigating many of the challenges posed by Covid-19.

ITV’s CEO Carolyn McCall said: “By any standards ITV has had an outstanding nine months. Both our Studios and Media & Entertainment businesses have performed very strongly. Revenue from each business over the nine months is up, both on last year and on 2019.”

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