Broadcaster records 43% drop in ad revenue in second quarter but is hopeful the worst is over
ITV has been hit by the steepest decline in advertising in its 65-year history, a 43% fall in the second quarter, and the impact of the
Coronavirus pandemic looks set to push the broadcaster out of the FTSE 100 in next month’s reshuffle.
The broadcaster, which has scrapped paying an interim dividend to fortify its balance sheet, reported a 50% fall in adjusted profits to £165m in the first half. The company said advertising revenues fell 21% in the first six months, a drop of £178m to £671m, including a 43% decline in the second quarter.