Report Overview

ITV UK H1 2020 results

There may be light at the end of the tunnel. After Q2 advertising revenues dropped 43% YoY, ITV has noted that there has been an upward trajectory (July down 23%, August appearing to be even better). This would leave ITV’s advertising revenues down between 15-25% for 2020 (ITV is unwilling to give forecasts). It appears that advertisers are beginning to think further ahead than they have for months—anecdotally, while around 80% of ad revenue is normally booked prior to the month’s start, this had reversed to about 20% in Q2.

Contents

Structural viewing issues overshadow tentative recovery

BritBox: still very modest at home but makes more sense as a scaled service

Returning to production

Overview of financial results

• ITV Studios

Broadcast and online

• Advertising performance

List of charts/tables

Figure 1: Daily minutes of viewing by week in year, 4+ (2019 dotted/2020 solid)

Figure 2: Daily minutes of viewing by week in year, 16-34 (2019 dotted/2020 solid)

Figure 3: Number of primetime* repeats broadcast, by week, 2020

Figure 4: YoY change in ITV Family audience by daypart, Q2 2020 (000)

Figure 5: Winner of 9-10pm slot, Q2 2017-20 (number of days in quarter)

Figure 6: ITV H1 revenue (£m)

Figure 7: ITV H1 adjusted costs, EBITA, and other financials (£m)

Figure 8: ITV Family share of viewing, individuals 4+ (%)

Figure 9: ITV average viewing time, H1, individuals 4+ (index 2010=100)

Figure 10: Number of commercial programmes with audiences over five million in H1

Figure 11: Total viewing to ITV, H1 (millions of hours)

Figure 12: ITV share of commercial impacts by demographic, Q2

Figure 13: ITV share of commercial impacts by demographic, H1