UK broadcaster ITV scores with Euros advertising boost

ITV said it delivered its largest advertising revenues for the month of June as Britain eased virus restrictions that coincided with the Euros. (File/AFP)

• Britain's ITV boosted its revenues for June thanks to advertisements during the Euros 2020 football tournament

LONDON: British broadcaster ITV on Wednesday posted record revenues for June thanks to an advertising boost during the Euros 2020 football tournament.
For the first six months of the year, ITV net profit surged to £98 million ($136 million, 115 million euros) from £19 million one year earlier, it added.
“Our first-half results demonstrate that ITV is emerging from the worst effects of the pandemic,” group chief executive Carolyn McCall said in the earnings statement.
“We are optimistic about the future, despite the ongoing pandemic risk on our... revenues,” she added.
ITV said it delivered its largest advertising revenues for the month of June as Britain eased virus restrictions that coincided with the Euros.
England, Scotland and Wales all participated at the delayed Euros that took part across Europe.
The final in London saw England lose to Italy.
“The Euros were like a mega hit series, helping the broadcaster pull in the biggest revenues for the month of June in its history, even as the tournament was in the early stages,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
“ITV is trying to play catch up in the streaming world, with some success,” she added.
ITV, along with state broadcaster the BBC and other channels in the UK, launched streaming service BritBox in late 2019 that offers mainly repeats of hit British shows and films.
“The number of subscribers pales into comparison with the likes of Netflix or Disney+... but the cachet of BritBox does appear to be a niche attraction,” Streeter added Wednesday.