ITV is 'emerging from the worst effects of the pandemic,' says CEO Carolyn McCall after the U.K. TV giant reported its highest June ad revenue ever. More:
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Ad revenue for the first six months of 2021 amounted to £866 million , up from the £671 million reported in the coronavirus pandemic-hit comparable period of 2020, but also exceeding the £849 million recorded for the period in 2019. “We are now a more flexible, more efficient and more digital business,” added the CEO. “We have successfully completed the first phase of our ‘More Than TV’ strategy and look forward to building on this platform to accelerate our transformation to a digitally led media and entertainment company.”
And she said that because “the dividend is important to our shareholders,” ITV plans to return to a “progressive dividend policy” based on its existing small dividend, “which we expect to grow over time” now that the worst of the pandemic seems to be behind the company. Management had curtailed its spending in the early stages of the pandemic to preserve the company’s financial flexibility.
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