ITV says World Cup lifts advertising, but forecasts weaker third quarter
By Paul Sandle
ITV's Advertising Revenue and Financial Outlook
World Cup's Impact on Advertising
LONDON, July 31 (Reuters) - ITV, the British broadcaster that has agreed to sell its channels and streaming platform to Comcast's Sky, said the World Cup lifted first-half ad revenue but forecast declining sales in the third quarter as the boost from the tournament faded.
Brand Engagement During the Tournament
Chief Executive Carolyn McCall said more than 200 brands had advertised around the competition, including some new to TV.
She said some brands shifted spending into June and July to capitalise on the tournament's buzz and audiences, though it was difficult to quantify how much had been simply brought forward.
Audience Numbers and Exclusive Coverage
ITV, which shared World Cup coverage with the BBC, drew a peak audience of more than 18 million for the England versus Norway match, one of three England games it showed exclusively.
Forecasts and Market Performance
Third Quarter and Nine-Month Outlook
ITV forecast a drop of around 5% in ad revenue for the third quarter despite July's football boost.
McCall said with the shifts around the World Cup, a better measure was the nine months to end-September, which would be flat, outperforming the market. She added that it was too early to see what the important final quarter would bring.
Financial Results and Analyst Expectations
ITV, which will be a standalone production business after the Sky deal, which is expected to close in the first half of 2027, reported flat operating profit of £146 million ($196.2 million) for the first half, slightly below analyst expectations.
Studios and Digital Revenue Growth
Studios Performance and Scheduling Changes
Profit at Studios fell 9%, partly due to scheduling changes to long-running soaps including "Coronation Street".
Upcoming Content and Revenue Weighting
It said revenue and profit in Studios would be weighted towards the second half, when it has a strong slate of shows such as "The Gentlemen" and "The Woods" for Netflix.
Full-Year Revenue Growth Expectations
McCall said ITV was on track to deliver good revenue growth in Studios and strong, profitable digital revenue growth within its Media & Entertainment broadcast business for the full year.
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(Reporting by Paul Sandle; editing by Sarah Young and Ros Russell)
